RedcapTour announced a large dividend, leading to a surge in its stock price.
RedcapTour shares were traded at 11,760 won on the KOSDAQ market at 1:54 p.m. on the 13th. The stock price rose by 29.37% (2,670 won) compared to the previous day. During the trading session, the stock price reached as high as 11,800 won, briefly hitting the upper limit on the daily price cap.
The so-called "bombshell dividends" stimulated investor sentiment. RedcapTour announced an ordinary dividend plan of 2,000 won per share that afternoon. The dividend yield based on the previous day's closing price exceeds 22%.
In particular, the total of 33.4 billion won for the dividend comes from part of the 48 billion won that was converted from capital reserves to retained earnings during the extraordinary shareholders' meeting last December and is exempt from taxation.
The dividend record date is March 12. Investors who purchase and hold RedcapTour shares by March 10, two trading days prior, will be eligible to receive dividends.
RedcapTour also reported its consolidated earnings for the fourth quarter of last year (October to December). It recorded sales of 91.282 billion won and an operating profit of 8.395 billion won. While sales increased by 2.7% compared to the same period in 2023, operating profit decreased by 13.5%.