The board of Kangwon Land Inc, operator of the Kangwon Land casino resort (pictured) in South Korea, on Friday recommended a final dividend of KRW1,170 (US$0.808) per share for the year ended December 31, 2024.
It represents a dividend ratio of 7.3 percent based on the present market price of the company’s stock, the company said.
The total dividend for full-year 2024 amounts to about KRW234.47 billion, Kangwon Land Inc stated in a filing to the Korea Exchange.
The payout is subject to approval at the firm’s shareholder meeting on March 26. If approved, it is likely to be paid on April 24.
The Kangwon Land casino resort is based in an upland area about 150 kilometres (93 miles) from the South Korean capital, Seoul.
Kangwon Land Inc is the only casino firm in that nation permitted to cater to local players.
In full-year 2024, Kangwon Land Inc’s net income stood at nearly KRW455.38 billion, up 33.6 percent year-on-year. Annual sales were just under KRW1.43 trillion, a 2.8-percent increase from the previous year.
In financial year 2024, Kangwon Land Inc bought back KRW40 billion in stock. For financial year 2025 and 2026 in aggregate, it is targeting to buy back up to KRW60 billion under its “value up plan” as announced in October last year.
In early December, the firm’s board authorised a “second casino venue” at the Kangwon Land complex via a KRW179.6-billion investment. The additional gaming space will provide an extra 50 tables and 250 gaming machines.
