Kangwon Land board flags final dividend for 2023

Mar 11, 2024 Newsdesk Latest News, Rest of Asia, Top of the deck  

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The board of Kangwon Land Inc, operator of the Kangwon Land casino resort (pictured) in South Korea, on Friday recommended a final dividend of KRW930 (US$0.706) per share for the year ended December 31, 2023.

It represents a dividend ratio of 5.6 percent based on the present market price of the company’s stock, the company said.

The total dividend for full-year 2023 amounts to approximately KRW188.55 billion, the company stated in a filing to the Korea Exchange.

The payout is subject to approval at the firm’s shareholder meeting on March 28. If approved, it is likely to be paid on April 26.

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, but has recently said it will spend effort marketing to foreign players as well.

In full-year 2023, Kangwon Land Inc’s net income attributable to its owners stood at KRW345.15 billion, up 198.5 percent from 2022, on sales that grew by 9.3 percent year-on-year, to just under KRW1.39 trillion.

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