KT&G to Buy Back Shares
Image: Vlad Ispas
KT&G will spend KRW2.8 trillion ($2.1 billion) to buy back shares and provide dividends to shareholders over the next three years, according to Yonhap News Agency. The company will buy back KRW1 trillion in shares for cancellation and distribute KRW1.8 trillion in cash dividends.
“Seventy percent of KT&G shareholders are long-term investors who have kept KT&G stocks for more than three years. The government is known to be considering providing incentives to companies which cancel their own shares,” the company said during the Value Day 2023 event.
KT&G aims to maintain a debt-to-equity ratio in the lower 40 percent range over the next three years. At the end of September 2023, its debt-to-equity ratio was 40.6 percent.