FILA Holdings announced at a corporate briefing held on the 21st that it has introduced a new shareholder return policy.
This shareholder return policy was promoted as part of FILA Holdings' ongoing emphasis on enhancing corporate value and strengthening shareholder returns.
FILA Holdings pledged to utilize up to 600 billion won for shareholder returns by 2026 based on a stable financial structure for 2022 and to expand the shareholder return rate to a maximum of 50% of consolidated net income attributable to shareholders. As part of this plan, it has implemented special dividends for three consecutive years starting in 2022, expanding the scope of policy to include not only the cancellation of existing treasury stock but also the acquisition of new treasury stock.
Last year, including special dividends and settlement of accounts dividends, a dividend of 1,200 won per share was paid, totaling 69.9 billion won returned to shareholders. Including a trust contract amount of 100 billion won for treasury stock acquisitions, the annual scale of shareholder returns amounts to approximately 170 billion won, equivalent to 201.8% of consolidated net income attributable to shareholders.
As a result, the cumulative scale of shareholder returns over the past three years reached a total of 330.4 billion won, achieving more than 55% of the original target amount (up to 600 billion won).
The newly established shareholder return policy aims to enhance predictability of dividends for investors and maximize shareholder value, based on FILA Holdings' proactive stance on shareholder returns.
FILA Holdings extended the duration of its shareholder return policy from 2026 to 2027 by one year. It plans to utilize up to 500 billion won for shareholder returns over the three-year period from 2025 to 2027. The total expected amount for shareholder returns from 2022 to 2027 (six years in total) is projected to reach up to 800 billion won.
FILA Holdings' consolidated revenue for last year was 4.2687 trillion won, with operating profit increasing by 6.5% and 18.9%, respectively, compared to the same period last year.
This increase in revenue was contributed by strong business performance in its U.S. golf subsidiary Acushnet, the base effect from one-time inventory expenses in the previous year’s FILA North America operations, and a favorable exchange rate environment due to a strong dollar.
Lee Ho-yeon, chief financial officer of FILA Holdings, noted, "We have introduced the new shareholder return policy based on the management's strong commitment to shareholder returns," adding, "We will diligently implement policies to enhance shareholder value based on the stable cash flow generated from Acushnet and the joint venture Full Prospect."