POSCO : Matters Related to Ad Hoc Public Disclosure Obligation (Fair Disclosure)
January 10, 2022 at 04:08 am EST
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Matters Related to Ad Hoc Public Disclosure Obligation (Fair Disclosure)
1. Details of information
Disclosure title
Guide to the shareholder-friendly policy to enhance shareholder value
Summary of ad-hoc public disclosure
Following the tentative change to the holding company structure, the Company would like to provide as below a guide to its shareholder-friendly policy in order to enhance the predictability of shareholder return and shareholder value:
① Retirement of treasury stock
- The Company will be retiring a portion of the currently owned treasury stocks within 2022 in order to meet the shareholders' expectation.
② Dividend policy
- According to the current mid-term dividend policy, the Company plans to pay 30% of the consolidated net income attributable to controlling interests as dividend until 2022 .
- Afterwards, in tandem with increasing corporate value, the Company plans to pay more than a minimum of KRW 10,000 per share.
Expected ad-hoc public disclosure date & time
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2. Details of information release
Information providers
IR Group
Information recipients
Shareholders and investors, media and press, etc.
Date & time of information release
To be disclosed as needed after this fair disclosure
Title and place of event held
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3. Contact points (department/phone number)
IR Group (02-3457-0114)
4. Other matters to be factored into investment decisions
- The consolidated net income attributable to controlling interests (one-off costs not generating cash outflow adjusted) above signifies the amount calculated according to the consolidated financial statements, including the net income for the current term of the steel subsidiary to be newly incorporated following the split-off.
- The Company currently operates a quarterly dividend system, and the dividend for each quarter and the dividends and details, etc. of the fiscal year (within the limit of profits available for dividends according to the Commercial Act) will be finally decided through board resolution and approval at the general shareholders' meeting.
- Specific details including the scale and schedule of the treasury stock retirement will be separately disclosed when they are confirmed through board resolution.
※ Related disclosure
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Disclaimer
POSCO published this content on 10 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 January 2022 09:07:00 UTC.
Posco Holdings Inc, formerly Posco, is a Korea-based company principally engaged in the manufacture and distribution of steel products. The Company operates its business through four segments. The Steel segment produces and sells steel products such as hot rolled steel, cold rolled steel, stainless steel, among others. The Trading segment engages in the global trade, including the export and import of steel products. The Engineering and Construction (E&C) segment plans, designs and builds industrial plants, civil engineering projects, commercial and residential buildings. The Other segment is engaged in the power plants, information and communication related services and other businesses.