Pearl Abyss to Issue First Dividend and Retire 50% of Treasury Shares... "Enhancing Corporate Value"

KRW 100 Billion Treasury Share Buyback Planned for Second Half

Pearl Abyss will implement its first-ever cash dividend since its founding.

Pearl Abyss Corporate Image (CI). Courtesy of Pearl Abyss.

On June 9, Pearl Abyss announced a plan to enhance corporate value that includes a shareholder return policy: an annual dividend equal to the greater of KRW 10 billion or 10% of net profit each year. This further details the initiative previously outlined at the regular shareholders' meeting in March.

To enhance shareholder value, Pearl Abyss will also retire 1,403,945 treasury shares, approximately half of its total 2,803,945 treasury shares currently held. The value of the retired shares is about KRW 540 per share based on the previous day's closing price, and the book value amounts to approximately KRW 17.3 billion. The retirement date is scheduled for June 12.

After the retirement, Pearl Abyss plans to use the remaining treasury shares for bonuses to encourage long-term service by outstanding employees and for the exercise of stock options, with the possibility of additional retirements of any remaining shares also under consideration.

In addition, Pearl Abyss plans to purchase KRW 100 billion worth of treasury shares through a trust in the second half of this year. Pearl Abyss stated, "Going forward, we plan to strengthen our competitiveness in live service games and enhance corporate value based on new game development and technological capabilities."

Meanwhile, the action-adventure game "Crimson Desert," released on March 20, sold over 5 million copies worldwide within one month, leading to a first-quarter revenue of KRW 328.5 billion, operating profit of KRW 212.1 billion, and net profit of KRW 158 billion.

This content was produced with the assistance of AI translation services.