Jusung Engineering decided on the 10th to cancel 787,200 shares, equivalent to 50% of its treasury shares, and to pay cash dividends totaling about 2.4 billion won.
The planned cancellation of treasury shares amounts to about 1.67% of the total number of shares issued, with a planned cancellation amount of about 40.9 billion won and a cancellation date of Feb. 25. For the cash dividends, it is 53 won per share.
Combining the cancellation amount of those treasury shares and the cash dividends aggregates, the total amount of this shareholder return comes to 43.3 billion won. Canceling treasury shares reduces the total number of shares outstanding, improving earnings per share, and is regarded as a representative shareholder-friendly policy.
A company representative said, "We plan to continue reviewing various policies to enhance shareholder value going forward and will take the lead in globalizing shareholder and corporate value."