LG Uplus reported on the 14th that its CEO, Hong Beom-sik, purchased 20,000 shares of company stock in the market. The average purchase price per share was 14,717 won, with a total acquisition amount of approximately 294.34 million won.
This is the first time that CEO Hong Beom-sik, who took office in December last year, has purchased company stock.
A representative of LG Uplus said, "We decided to repurchase our own stock to strengthen responsible management and enhance shareholder value."
LG Uplus announced on July 21 that it would retire 100 billion won worth of its own stock to enhance shareholder value and announced an interim dividend of 107.5 billion won.
In addition, the company plans to make an additional stock repurchase of about 80 billion won for the first time in four years. This amounts to approximately 5,336,891 shares when calculated at 14,990 won based on the closing price the day before, which is about 1.22% of the total number of shares issued before the retirement. The repurchase will be carried out in a partitioning manner starting from the 4th of next month over one year.
LG Uplus announced its corporate value enhancement plan, titled "Value Up Plan," last November, which includes long-term financial goals, achievement strategies, and shareholder return plans.
LG Uplus will pay 250 won per share as an interim dividend this year. This is the same amount as last year's interim dividend. The record date for the interim dividend is August 5, and payments are scheduled to be made to shareholders on the 20th of this month.