Hana Financial to buy back treasury stocks worth $270 mil.

Hana Financial To Buy Back Treasury Stocks Worth $270 Mil.

Hana Financial Group headquarters in Seoul / Courtesy of Hana Financial Group

Hana Monetary Group headquarters in Seoul / Courtesy of Hana Monetary Group

By Lee Yeon-woo

Hana Monetary Group determined to repurchase and retire treasury shares value 400 billion received ($270.3 million) to boost its company worth amid record-high earnings, it stated Tuesday. This marks the biggest share buyback and retirement because the group’s founding.

The announcement got here throughout its fourth-quarter earnings report. Hana posted a record-high web revenue of three.7 trillion received, a 9.3 % enhance from the earlier yr.

The agency stated the transfer displays the sturdy dedication of its board and administration to persistently advance the Company Worth-up Program — an initiative led by the federal government to revitalize the „undervalued“ Korean inventory market by enhancing company governance and shareholder returns.

„The choice was made to reward shareholders for his or her belief and to realize a complete shareholder return ratio of fifty % by 2027,“ a Hana official stated.

The overall money dividend per widespread share for 2024 quantities to three,600 received, marking a 5.9 % enhance from the earlier yr. The annual whole shareholder return ratio rose to 37.8 %, up 4.8 proportion factors year-on-year.

The group’s estimated widespread fairness tier 1 (CET1) ratio on the finish of 2024 stands at 13.13 %, remaining throughout the goal vary of 13 % to 13.5 % set for executing its enterprise worth enhancement plan. CET1 signifies the core capital that banks maintain as a part of their capital construction.

„Regardless of final yr’s trade charge fluctuations, Hana’s company-wide efforts in managing risk-weighted property and its profitability-driven asset progress technique contributed to those outcomes,“ the official added.

Přejít nahoru