Dong-A ST disclosed that on the 23rd it held a board meeting and resolved to retire 50% of its treasury shares.
A total of 84,058 shares are subject to retirement, with an expected retirement amount of about 5.1 billion won. The company plans to complete the retirement by the 3rd of next month.
Along with the retirement of treasury shares, the company will also push forward a reduction dividend. It is structured so that individual shareholders are not subject to a 15.4% dividends income tax.
To that end, it will submit "reduction of capital surplus and transfer to retained earnings" as an agenda item at the 13th regular shareholders meeting next month. If the item passes, tax-exempt dividends will be possible starting with the settlement of account dividends for the 2026 fiscal year.
Separately, it also plans to pay cash dividends of 700 won per common share and stock dividends of 0.05 share. The record date for dividends is the 11th of next month.
Meanwhile, the company has formed its board with a majority of outside directors and operates with the CEO and the board chair separated. The compensation committee and the audit committee are composed entirely of outside directors, and the outside director nomination committee is filled with outside directors for at least two-thirds of its seats.