Paradise Co final dividend US$0.075 per share for 2023

Feb 16, 2024 Newsdesk Latest News, Rest of Asia, Top of the deck  

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Paradise Co Ltd, an operator of foreigner-only casinos in South Korea, on Thursday recommended a final dividend of KRW100 (US$0.075) per share for the year ended December 31, 2023.

It represents a dividend ratio of 0.7 percent based on the present market price of the company’s stock, Paradise Co said.

The total dividend for full-year 2023 amounts to approximately KRW8.63 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 22. The firm did not say when the dividend would be paid if okayed.

The company directly runs three casino venues: Walkerhill in Seoul; Paradise Jeju on Jeju island; and a property in the port city of Busan. It has a joint venture with Japan’s Sega Sammy Holdings Inc for the Paradise City resort at Incheon, outside of Seoul.

Paradise Co reported also on Thursday a net loss attributable to shareholders of KRW5.30 billion for the three months to December 31. That compared to a KRW35.26-billion profit in the preceding quarter, and a KRW4.05-billion loss a year earlier.

Paradise Co reported full-year earnings before interest, taxation, depreciation, and amortisation (EBITDA) of KRW228.77 billion, up 23.0 percent from the prior year, and net profit of KRW66.36 billion, a 164.3-percent increase year-on-year.

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