Kangwon Land recommends final dividend per share for 2023

On Friday, Kangwon Land Inc., the operator of the South Korean casino resort Kangwon Land, released a final dividend proposal for the fiscal year ending on December 31, 2023, valued at KRW930 (US$0.706) per share.

As per the organization, the projected payout signifies a 5.6% dividend ratio based on the current market price of the company’s shares.

According to the company’s Korea Exchange registration, it would pay out dividends of over KRW188.55 billion for the whole year 2023.

Final approval of this dividend distribution is pending at the company’s March 28 shareholder meeting. If granted, the dividend is scheduled to be paid on April 26.

The Kangwon Land casino resort is located in a highland location around 150 kilometers (93 miles) from Seoul.

Kangwon Land Inc. has declared that it would concentrate on marketing campaigns to entice foreign players in addition to local ones, even though it has the only license in South Korea to serve local casino clients.

Kangwon Land Inc. declared net income attributable to shareholders of KRW345.15 billion for the fiscal year 2023, a 198.5 percent increase from the previous year. Sales for the firm increased to KRW 1.39 trillion, a little increase of 9.3% over the prior year.

Original story by: GRRAsia