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Photo = Yonhap news |
[Alpha Biz= Kim Jisun] Paradise Co., Ltd. announced on June 4 that it will cancel a portion of its treasury shares as part of its ongoing efforts to enhance shareholder value.
The company will retire 541,130 shares, equivalent to 10% of its currently held 5.41 million treasury shares. The market value of the shares to be canceled is approximately KRW 7.2 billion.
This move is in line with Paradise’s commitment to implementing tangible measures to improve corporate value, as previously disclosed in March.
Paradise has pledged to increase shareholder returns through a series of initiatives, including gradually increasing its dividend payout ratio and retiring treasury shares in stages, thereby sharing business performance with its shareholders.
Following the cancellation, the company’s actual shareholder return ratio—based on last year’s net income attributable to controlling shareholders—will rise from 17.1% to 26.7%, representing an increase of approximately 9.5 percentage points.
Looking ahead, Paradise expects its stock price to benefit from a planned KRW 150 per-share dividend, the gradual cancellation of remaining treasury shares, and stable revenue performance.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
