Share buyback cancellations continue, with Shin Young Securities and Celltrion expanding dividends and shareholder returns
Several South Korean companies, including Shin Young Securities and Celltrion, have announced the cancellation of treasury shares and expanded dividends. Shin Young Securities disclosed the cancellation of 32% of its treasury shares and an increase in the dividend per share to 7,500won.
Today, numerous South Korean companies announced the cancellation of treasury shares and expanded shareholder returns. The disclosures by each company were issued as filings submitted to the exchange. The disclosures focused on the scale of the cancellations and dividend and shareholder-return plans.
Shin Young Securities disclosed that it would cancel 32% of its treasury shares. The company said it would increase the dividend per share to 7,500won. The filing specified the cancellation ratio and the decision to increase the dividend.
On the same day, Shin Young Securities separately disclosed that it had carried out the cancellation of 526ten thousand treasury shares and increased its dividend by 50% year on year. The company reconfirmed the completion of the cancellation and the dividend increase. The relevant figures can be confirmed in the company’s filing.
Celltrion 1,000announced that it had completed the cancellation of treasury shares worth KRW billion. The company said it would pursue total shareholder returns worth KRW trillion within the year. The filing stated that the cancellation had already been carried out.2The cancellation was stated in the filing to have already been completed.
Plantynet 33announced that it had decided to cancel treasury shares worth KRW billion. The company explained that the cancellation had been decided by a resolution of the board of directors. It said the schedule and method of execution would be disclosed later.
One securities firm raised its target price for Samsang C&T to reflect an increase in the value of its stake and expanded shareholder returns. Another securities firm said it had raised its target price for LS Electric based on increased orders for data centers in North America. Both companies disclosed the target-price changes to the market.
The disclosures announced today mainly concerned shareholder returns, including treasury-share cancellations, dividends, and target-price increases. Each company specified concrete figures and whether execution had taken place in its disclosure. Investors can check the timing and conditions of execution through the original disclosures.