Webcash announced on the 16th that it will cancel 8.86 billion won ($6.2 million) worth of treasury shares.
This marks the company's second share buyback cancellation following one in 2023, representing a shareholder return measure approximately 90% larger in scale than the previous effort. The cancellation is scheduled for the 31st of this month.
Webcash has consistently pursued shareholder return policies through treasury share purchases, cancellations, and dividends. The company explained that this latest cancellation aims to signal its commitment to enhancing shareholder value beyond short-term stock price support.
In 2023, Webcash canceled approximately 4.7 billion won in treasury shares. In 2024, the company purchased 6 billion won worth of treasury shares and distributed a cash dividend of 100 won per share. This year, the company doubled its dividend to 200 won per share.
Webcash plans to continue increasing its mid-to-long-term corporate value through shareholder return policies alongside a business transformation centered on AI agents.
"Webcash is consistently pursuing shareholder return policies through treasury share cancellations and dividend expansion," said Webcash CEO Kang Won-ju. "We will strengthen our corporate competitiveness through an AI agent-centered business transformation and enhance our mid-to-long-term corporate value."
