Agricultural machinery corporations TYM Co. decided on an interim dividend of 120 won per common share.
TYM Co. held a board meeting on the 12th and set the dividend at about 4.78332 billion won. Of the total 41.4 million shares outstanding, 39,861,043 shares are eligible, excluding 1,538,957 treasury shares. The record date for the dividend is on the 28th. The payout is planned within one month of the board resolution.
This interim dividend is 2.4 times larger than last year's (50 won per share). TYM Co. has been paying an interim dividend every year since introducing it in 2022.
For the first half of this year, TYM Co.'s consolidation sales (provisional disclosure basis) were 552.2 billion won, up 13.1% from a year earlier. Operating profit was 62.6 billion won, and net profit was 56.7 billion won. They increased 59.1% and 148%, respectively. Expanded sales of mid- to large-sized tractors in North America, stronger dealer networks, and improved service competitiveness drove performance.
It has also been buying back its own shares since 2019. Last year, it pursued both dividend expansion and treasury share policies, including deciding on the cancellation of treasury shares worth about 22 billion won, equivalent to 8.1% of the total number of shares issued.
A TYM Co. official said, "Based on improved first-half results, we expanded the scale of the interim dividend," and added, "We will continue a sustainable shareholder-return policy grounded in stable performance."