Naver (035420.KS) announced Wednesday that it will distribute 393.6 billion won in dividends to enhance shareholder value.
"Under our new shareholder return plan, we will return 25-35% of the average free cash flow (FCF) from the previous two years over the next three years (2025-2027) through share buybacks and cancellations or cash dividends," Naver CEO Choi Soo-yeon said during the fourth-quarter earnings conference call.
For the 2025 fiscal year dividend, the company plans to pay 2,630 won per common share, totaling 393.6 billion won in cash, in April. This represents 30% of last year's FCF being returned to shareholders. The record date for the dividend is February 27.
Naver reported in a regulatory filing Wednesday that its consolidated revenue for 2024 reached 12.035 trillion won, up 12.1% year-on-year, while operating profit rose 11.6% to 2.2081 trillion won on a preliminary basis.