[Disclosure] Hyundai Motor Company to cancel 7.891 trillion won worth of treasury shares on the 31st

[Financial News] Hyundai Motor Company will cancel about 2.51 million treasury shares worth roughly 789 billion won.
According to the Data Analysis, Retrieval and Transfer System (DART) of the Financial Supervisory Service on the 26th, Hyundai Motor Company held a board meeting that day and approved a plan to cancel a total of 2,505,606 treasury shares, including 1,291,274 common shares and 1,214,332 preferred shares.
The shares to be canceled are existing treasury shares, excluding those reserved for employee compensation. The cancellation is scheduled for the 31st of this month. The planned cancellation amount is 789.1 billion won, which is less than 1% of Hyundai Motor Company's market capitalization.
Hyundai Motor Company also decided to maintain a total shareholder return ratio of at least 35% and a minimum dividend of 10,000 won. It also unveiled a plan to expand global production capacity by 1.27 million vehicles from current levels by 2030 and launch more than 100 new models.
However, Hyundai Motor Company shares closed the regular session down 3.09% from the previous trading day at 408,000 won.
[email protected] Park Ji-yeon Reporter