Boryung (003850) has approved a dividend of 13.5 billion won ($9.5 million), marking the first time the pharmaceutical company's year-end cash dividend has exceeded 10 billion won. The move signals an acceleration of shareholder return policies backed by earnings growth and improved cash flow.
According to the Financial Supervisory Service's electronic disclosure system on the 24th, Boryung's board resolved on the 23rd to pay 160 won per common share as its fiscal year-end cash dividend. The total dividend amounts to 13.5 billion won with a dividend yield of 1.7%. The payout is scheduled for April 30 following approval at the annual shareholders' meeting on March 31.
The scale of this dividend is notable. This marks the first time in a decade that Boryung's year-end cash dividend has surpassed 10 billion won. Dividends remained in the 1 billion won range during 2015-2016 and were frozen at approximately 6.6 billion won in 2022-2023. After rising to 8.4 billion won in 2024, this year's dividend represents an increase of more than 60% year-on-year.
Stable earnings underpin the dividend expansion. Boryung posted consolidated revenue of 1.0174 trillion won and operating profit of 65.1 billion won last year. Since first joining the "1 trillion won club" in 2024, the company has maintained trillion-won-level sales for two consecutive years. Compared to revenue of 401.3 billion won in 2015, this represents growth of more than 150% over a decade.
Liquidity also supported the decision. Cash and cash equivalents stood at 227.6 billion won at the end of last year, up more than 20% year-on-year. Despite temporary adjustments to operating profit, maintaining levels in the mid-60 billion won range secured sufficient funds for the dividend.
Industry analysts note that Boryung is clearly steering toward shareholder-friendly management based on profitability. Having pursued portfolio expansion in prescription drugs for chronic diseases, production facility investments, and global business expansion, the company appears to be returning accumulated profits as dividends in a strategy aimed at corporate value revaluation.