Pearl Abyss will pay dividends for the first time since its founding and strengthen shareholder returns by retiring half of its treasury shares.
Pearl Abyss said in a plan disclosed on the 9th to enhance corporate value that it will pay the larger of 10 billion won or 10% of net profit as dividends every year. The plan fleshes out the corporate value enhancement direction announced at the regular shareholders meeting in Mar.
To boost shareholder value, the company will also retire 1,403,945 shares, about 50% of the 2,803,945 treasury shares it holds. Based on the closing price on the 8th, the retirement is worth about 54 billion won, and the retirement date is the 12th.
Treasury shares remaining after the retirement will be used for compensation for outstanding employees and for delivering treasury shares upon the exercise of stock options.
Pearl Abyss also said it plans to buy an additional 100 billion won of treasury shares in the second half of this year.
Meanwhile, powered by the success of the new title "Crimson Desert," Pearl Abyss posted first-quarter revenue of 328.5 billion won and operating profit of 212.1 billion won this year. The company projected full-year revenue could reach up to 975.4 billion won.