HANDSOME to Cancel 30 Billion Won in Treasury Shares Over Three Years... Also to Increase Dividends

[Financial News] HANDSOME, a fashion company affiliated with Hyundai Department Store Group, is taking steps to enhance corporate value, including the cancellation of 10 billion won worth of treasury shares.
HANDSOME announced on the 18th that it had decided to purchase 653,168 of its own shares on the open market by the 22nd of next month and cancel all of them within the year. The shares represent 3% of the total shares issued.
HANDSOME plans to purchase and cancel 10 billion won worth of treasury shares annually for three years through 2028, including this year, to enhance shareholder value.
It will also introduce additional shareholder-return measures. The minimum allocation for dividends will be raised from at least 15% of standalone operating profit to at least 20%, while the minimum dividend per share will increase from 750 won to 800 won.
A HANDSOME representative said, "We plan to enhance shareholder value through an active shareholder-return policy," adding, "By increasing corporate value through sustained growth, we will build stronger trust with various stakeholders in the market, including our shareholders."
[email protected] Kang Myeong-yeon Reporter