Huvis : to Pay Cash Dividend of 300 Won per Share, with Dividend Yield at 3.5 percent

Huvis (CEO Shin, You Dong, 079980), specializing in chemical and fiber materials, has announced that its board of directors reached a decision at a meeting on March 8th to pay a cash dividend of 300 won per share. This works out to be a dividend yield of 3.4 percent worth 9.87 billion won. The record date is December 31, 2021, and the dividend will be paid within one month after the date of general assembly - March 24.
Since its public offering in 2021, Huvis has been paying cash dividends equivalent to an average of 3.2 percent every year, which is much higher than the combined average for the entire companies listed on the Korea Exchange - 2.4 percent (2020).
It also reported its performance in 2021 on the same day: 1.0826 trillion won in revenue, 6.5 billion won in operating income and 3.5 billion won in net income (as shown in its consolidated financial statement).
"In 2021, the company's overall profitability worsened due to the disruption of the global supply chain and rising raw material prices. Still, the company has decided to pay a dividend of 300 won, the same level as last year, to help increase shareholder value," said one internal source from the company. "This year, we will improve our profitability by mitigating rising costs properly and focus on garnering new drivers for growth by redesigning our product portfolio towards green and highly functional products including biodegradable and electric vehicle materials"
Huvis will hold its 22nd regular general assembly in the Uno Building on Seolleung-ro, Seoul at 09:30 a.m. March 24. Voting will take place electronically to enable shareholders to cast their ballots more easily and more safely amid the COVID-19 pandemic. See the relevant notice of the general assembly for more details on the electronic voting. (The end)