Mirae Asset Securities retires more than 15 million shares of its own shares every year

COMPANY / Reporter Kim Jisun / 2024-02-23 03:19:45
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[Alpha Biz=(Chicago) Reporter Kim Jisun] Mirae Asset Securities has announced a shareholder return policy that includes retirement of at least 15 million shares per common stock each year over the next three years. In terms of shareholder return propensity, it will maintain more than 35% every year.

Mirae Asset Securities said on the 23rd that it has decided on a shareholder return policy that will be applied for the next three years from 2024 to 2026 through its board of directors.

In the future, Mirae Asset Securities will spend at least 35% of its adjusted net profit on retirement or dividends after buying back its shares. Specifically, it said it would retire at least 15 million ordinary shares and 1 million or more second preferred shares each year. This is the first case in the industry that specifies the amount of treasury stock incineration. After purchase, the treasury stocks are retired or acquired on the market.

On the same day, Mirae Asset Securities decided to retire 10 million ordinary shares (82.2 billion won) and pay dividends worth 89.8 billion won. This is about 172 billion won in total, and the tendency to return shareholders is about 52.6% of the adjusted net profit (based on consolidated shareholders).

Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)

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