Namyang Dairy Products shares were strong early on the 13th. The buying is seen as following the previous day's announcement of shareholder return plans, including the cancellation of treasury shares and dividends.
As of 9:37 a.m. that day, Namyang Dairy Products was trading at 55,400 won, up 4,400 won (8.63%) from the previous session.
On the 12th, Namyang Dairy Products announced through a filing plans to cancel 20 billion won worth of treasury shares and to pursue dividends totaling around 11 billion won.
Namyang Dairy Products decided to enter into a trust agreement to acquire treasury shares worth 20 billion won, equivalent to about 320,000 common shares and about 110,000 preferred shares, and to pursue, in principle, the cancellation of the purchased amount.
It also decided to pursue a general dividend of about 3 billion won and a special dividend of about 8.2 billion won. The source of the special dividend is the escrowed compensation deposit that former Chairman Hong Won-sik's family entrusted to the company in connection with the embezzlement and breach of trust case.