KT announced that it will repurchase and retire 5,143,300 shares of its own stock.

KT announced that it will repurchase and retire 5,143,300 shares of its own stock.: COMPANY / Reporter Kim SangJin / 2024-05-10 03:34:30

(Photo= Yonhap news)

[Alpha Biz= Reporter Paul Lee] On the 9th, KT announced that it will retire 51,433,300 shares of its own stock. This amounts to approximately 2% of the total issued shares, valued at ₩178.9 billion. The scheduled date for the retirement is the 24th of this month.

Last October, KT unveiled its mid-term shareholder return policy. This policy includes cash dividends funded by 50% of the adjusted net income according to separate financial statements for three years starting from the fiscal year 2023, as well as plans for repurchasing and retiring treasury shares.

KT stated, "We have confirmed this year's dividend at ₩1,960, and we have completed the repurchase and retirement of treasury shares amounting to ₩27.1 billion."

KT further added, "Starting from this year, we have implemented the first quarterly dividend since our founding, and announced a cash dividend of ₩500 per share for the first quarter on April 30th," and "To enhance shareholder convenience and ESG management, we have introduced an online dividend inquiry service starting from this first quarter dividend."