Celltrion announced on the 21st that it has decided to carry out an additional share buyback worth 50 billion won.
In line with its commitment to an active shareholder return policy, Celltrion has completed a share buyback procedure worth about 200 billion won that it began earlier this year, and announced an additional share buyback on this day. The shares being bought back this time total 268,385 shares, worth approximately 50 billion won. The acquisition is scheduled to take place through on-market transactions starting from the 24th.
Last year, Celltrion completed a share acquisition worth approximately 436 billion won and a share cancellation of over 700 billion won. In December of last year, the board of directors decided to promote a share cancellation amounting to approximately 553.3 billion won, which accounts for 25% of the total shares owned by the company, completing it in January. On the 14th, a decision was made to additionally cancel all of the shares acquired this year, amounting to approximately 203.3 billion won.
The company plans to cancel all the shares acquired in this latest decision worth 50 billion won. The total value of shares to be canceled this year is expected to reach approximately 806.6 billion won. It is also planned that all additional shares acquired within this year will be canceled.
Celltrion is set to conduct the largest simultaneous cash and stock dividends in its history during the upcoming regular shareholders' meeting on the 25th. Cash dividends will be 750 won per common share, totaling approximately 153.8 billion won, while stock dividends will be 0.05 shares per common share, totaling about 10.25 million shares. Additionally, the company will present 'the approval of capital reserve reduction' as an agenda item at the shareholders' meeting, preparing a tax-free dividend fund of approximately 620 billion won to boost dividend income and to be utilized for future shareholder dividends. The company aims to achieve an average shareholder return rate of 40% over the next three years, by 2027.
A Celltrion official noted, "We will strengthen corporate value and grow together with investors through an active shareholder return policy, accelerating our leap towards becoming a global big pharma."