LG Electronics has embarked on its first-ever stock buyback and retirement program, amounting to over 60 billion won.
On the 24th, LG Electronics revealed its schedule for stock buyback and retirement as well as interim dividends for 2025, following a board resolution. This is part of a shareholder return plan within the value-up program announced last December.
LG Electronics has decided to retire all 761,427 shares of common stock that were purchased within the scope of distributable profits by the end of this month. This quantity represents 0.5% of the total number of shares issued. The amount scheduled for retirement is based on the closing price of 60.2 billion won as of the day before the board resolution on the 23rd.
The retirement of treasury stock acquired within the scope of distributable profits, based on the board resolution, will only reduce the number of issued shares without decreasing the capital stock.
LG Electronics will also carry out an interim dividend of 500 won per share for both common and preferred stocks. The dividend record date is August 8, and the payment date is August 22. The total amount of the interim dividends is valued at 90 billion won.