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[Alpha Biz=(Chicago) Reporter Paul Lee] Meritz Financial Group announced on the 10th that it will retire treasury stocks worth KRW 200 billion.
Meritz Financial Group announced that it will incinerate treasury stocks worth 200.1 billion won (4.84 million shares) after the market closed. The expected date for cancellation of treasury shares is the 30th.
Meritz Financial Group also retired treasury stocks worth 100 billion won in March. Meritz Financial Group, which was launched as an integrated holding company in April, said it will use 50% of its net profit (based on consolidation) to return shareholders. Net profit of KRW 2.1579 trillion is expected this year, of which about KRW 1 trillion will be used to return shareholders. It is expected to invest 600 billion won in treasury stock purchases and pay 400 billion won in dividends.
Meritz Financial Group (including securities and fire) has retired nearly KRW 1 trillion in treasury stocks over the past three years.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
