GKL proposes a cash dividend of US$0.26 per share
The dividend reflects a 2.6 per cent ratio.
South Korea.- Grand Korea Leisure (GKL) has proposed a final cash dividend of KRW353 (US$0.26) per share for the fiscal year concluding on December 31, 2023. According to the announcement made on Friday (February 16), the proposed dividend reflects a ratio of 2.6 per cent based on the market price of the company’s stock.
The recommendation was disclosed in a filing to the Korea Exchange and is estimated to cost KRW21.84bn. The scheduled date for the dividend payout is April 26, contingent upon approval at a shareholder meeting on March 28.
The company reported net income of KRW44.08bn (US$32.8m) for 2023. The figure represented a turnaround from the net loss of KRW22.74bn reported in 2022, mainly due to the Covid-19 pandemic. The company posted casino sales of KRW265.16bn (US$207.23m), up 49.8 per cent when compared to the previous year.
GKL is the second South Korean casino operator to propose a final dividend for the fiscal year 2023. Paradise Co recommended a dividend of KRW100 per share on Thursday (February 15).
