Kyungdong Navien soars on record sales and dividend boost in South Korea

In early trading on the 12th, Kyungdong Navien is surging 7% on the back of strong results.

As of 9:47 a.m. that day on the Korea Exchange, Kyungdong Navien is trading at 67,000 won, up 4,800 won (7.72%) from the previous session.

The previous day, Kyungdong Navien said in a preliminary earnings filing that last year's sales on a consolidation basis were 1.5029 trillion won, up 11% from a year earlier. This is the first time Kyungdong Navien's sales have exceeded 1.5 trillion won. Operating profit came to 144.1 billion won, up 8.7%.

Meanwhile, Kyungdong Navien also decided on a cash dividend as part of its shareholder return policy. The total dividend amount is about 10.8 billion won, with a dividend yield of 1.3%.