NHN announced it will buy back 430,000 shares and subsequently burn them, aiming to strengthen its commitment to shareholder returns.
The company stated on May 11 that it will acquire 431,525 shares from May 12 to August 11.
The total value of the buyback is approximately 16.7 billion won, and NHN plans to burn all acquired shares. KB Securities will manage the buyback. By burning the shares instead of holding them, NHN aims to reduce the number of shares in circulation and increase the value per share.
According to Article 343, Paragraph 1 of the Commercial Act, the company explained that the board of directors has resolved to burn the treasury shares. This will decrease the total number of issued shares without reducing the capital.
This initiative is part of NHN's three-year shareholder return policy announced last August. The company has committed to allocating 15% of its annual EBITDA to shareholder returns, which will be used for cash dividends and share buybacks.
Notably, NHN plans to increase cash dividends each year, ensuring they exceed the previous year's per-share dividend. In line with amendments to the Commercial Act, starting in 2026, NHN intends to burn at least 50% of newly acquired shares within the same year to maximize benefits for shareholders.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.