Mirae Asset Maps Realty sets out to enhance shareholder value, targets annual dividend of 300 won per share

[Financial News] Mirae Asset Maps Realty Real Estate Public Offering Investment Company (hereinafter, Mirae Asset Maps Realty) is working to enhance its corporate value, with a medium- to long-term goal of paying an annual dividend of 300 won per share. It aims to increase shareholder value through stable dividends and improved profitability of its assets.
On the 21st, Mirae Asset Maps Realty said the company had disclosed a corporate value enhancement plan the previous day, centered on improving market valuation, securing dividend stability, optimizing its asset portfolio and expanding communication with shareholders.
The company plans to use the price-to-net-asset-value ratio (P/NAV) as a key management indicator and raise its corporate value, which is undervalued by the market. P/NAV is calculated by dividing the share price by net asset value (NAV) per share. A ratio below 1 means the shares are trading below their net asset value.
Mirae Asset Maps Realty’s P/NAV rose from about 0.5 at the end of September last year to 0.6 at the end of March this year and 0.7 at the end of September. The company aims to reach a P/NAV of 0.8 over the medium to long term, or the average level of comparable listed real estate investment vehicles, while continuously monitoring NAV and cash flow trends.
The company also outlined specific plans to increase dividends. It aims to pay 142 won per share in the second half of this year and 150 won per share in the first half of next year. The combined dividends for the two periods would amount to 292 won per share, or about 5.8% of par value. In the long term, the company plans to establish a foundation for steadily paying an annual dividend of 300 won per share, equivalent to about 6.0% of par value.
The performance of its assets also improved. As of the end of September this year, the appraised value of its investment assets was 1.5194 trillion won, up from 1.4271 trillion won in the same period a year earlier. Operating revenue over the same period also increased from 33.6 billion won to 36.1 billion won. The company plans to improve profitability by increasing occupancy at key assets and adjusting lease terms to reflect market conditions when renewing lease agreements.
The company will also use the investor relations (IR) channel on its website to disclose information on asset management, NAV, dividend policy and capital allocation plans. It plans to review the progress of its corporate value enhancement plan every year and report the results to shareholders.
An official at Mirae Asset Global Investments Co., Ltd. said, “We will improve our management to boost capital efficiency and cash flow per share while maintaining the competitiveness of high-quality assets and a stable dividend base. We will expand communication with shareholders and continue working to enhance corporate value so that the value of our assets is properly recognized by the market.”

[email protected] Lee Jeong-hwa Reporter