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Shinsegae sets revenue target of 10 trillion won by 2030 for value-up plan

Published: 27 Dec. 2024, 19:37

SHIN HA-NEE
[email protected]

Shinsegae Department Store in Gangnam District, southern Seoul. [SHINSEGAE GROUP]

Shinsegae announced its corporate value-up plan aimed at enhancing its shareholder returns on Friday, with a goal of achieving 10 trillion won ($6.78 billion) in revenue by 2030.

According to an electronic disclosure, Shinsegae plans to retire at least 2 percent of its treasury shares every year for the next three years, and bring its dividend payment from the current 3,500 won per share to a minimum of 4,000 won until 2007.

The retail giant has reacquired treasury shares worth 105 billion won this year.

Shinsegae also revised its rules to decide its dividend before the dividend record date to enable investors to make their investment decisions based on the amount of dividend payouts decided by the management.

Moreover, the company aims to push its consolidated return on equity from last year’s 5.4 percent to 7 percent by 2027 by improving investment efficiency and reducing costs.

To enhance communication with investors both home and abroad, Shinsegae will publish its investor relations filings in Korean and English on its website, and hold non-deal roadshows for domestic institutional investors once every quarter and for international investors once to twice a year.

BY SHIN HA-NEE [[email protected]]