LG Electronics, First Share Buyback Burn Since Founding... 60.2 Billion Won Scale

[Financial News] LG Electronics announced on the 24th that it has disclosed the schedule for the share buyback burn and interim dividend for 2025. The share buyback burn and interim dividend are part of the shareholder return plan of the value-up program announced last December.
LG Electronics decided to burn all 761,427 shares of common stock acquired within the range of distributable profits by the end of this month. This quantity corresponds to 0.5% of the total issued common stock. The expected burn amount is approximately 60.2 billion won based on the closing price on the day before the board resolution, the 23rd.
This is the first time LG Electronics has undertaken a share buyback burn since its founding. The shares acquired within the range of distributable profits are burned by the board resolution, reducing only the number of issued shares without decreasing the capital.
LG Electronics will also conduct an interim dividend of 500 won per share for both common and preferred stocks. The dividend record date is August 8, and the payment date is August 22. The total amount of the interim dividend is 90 billion won.
An LG Electronics representative explained, "Since last year, we have adjusted the dividend payout ratio from 20% to 25% of the net income based on consolidated financial statements," and added, "We are conducting interim dividends to contribute to stable cash flow and enhance shareholder value by setting the basic dividend per share at 1,000 won."

kjh0109@fnnews.com Jun-ho Kwon Reporter