The manufacturer of the skin beauty medical device 'Shrinks Universe' Classis announced on the 10th that it has signed a trust agreement for the acquisition of its own shares and will buy back its own stock worth 50 billion won.
The company noted that this is part of its shareholder return policy due to revenue growth. Stock buybacks and retirements are typical policies for boosting stock prices and returning value to shareholders. When a corporation buys back and retires its own shares, the number of outstanding shares decreases, which increases the per-share value of existing shareholders' holdings. Classis also decided in February this year to retire shares worth about 24.9 billion won. The company's average annual dividend growth rate is around 70%.
A company official said, “Classis is building a foundation to leap to become the world's leading beauty medical platform company, achieving sales of $1 billion and an operating profit margin of over 50% by 2030.” He also stated, “By 2025, various laser products, including the ‘Secret’ microneedle product line from the merged Iruda, will also contribute to high growth.” He added, “We will continue to communicate steadily so that the company's future value can be reflected in corporate value, and we will implement various shareholder-friendly policies.”