(Daegu=Yonhap News) Reporter Lee Kang-il: On the 7th, DGB Financial Group decided on a cash dividend of 500 won per common share and announced plans to carry out stock cancellation worth about 60 billion won.
DGB will cancel approximately 2.75 million shares of treasury stock (worth 20 billion won) currently held, as well as treasury stock planned to be purchased in the first half of this year (worth about 40 billion won).
The stock cancellation aims to alleviate investors’ disappointment due to recent poor performance and reduced dividends, as well as to enhance external trust by promptly implementing last year’s announced plan for boosting corporate value.
Previously, during the third-quarter earnings announcement last year, DGB Financial Group had announced plans to cancel treasury stock worth about 150 billion won by 2027.
A representative from DGB Financial Group stated, “We will focus on enhancing corporate value by implementing the value-up program announced last year alongside unveiling the new vision of being the ‘Only 1 Hybrid Financial Group that reaches customers digitally.'”
On a related note, DGB Financial Group announced in its earnings report that it recorded an accumulated net income attributable to controlling shareholders of 220.8 billion won last year.
The accumulated net income of its key subsidiary, iM Bank, was 371 billion won, marking a 2.0% increase compared to the previous year.