Korea Zinc to Cancel 246,665 Treasury Shares... Renews Push for Stock Split

Third-quarter operating profit: KRW 141.7 billion, down 48% year on year

Korea Zinc is moving to enhance shareholder value by again pursuing the cancellation of treasury shares and a stock split. In the third quarter of this year, revenue exceeded KRW 6 trillion, and the company posted an operating profit for the 107th consecutive quarter.

Korea Zinc CI. Korea Zinc

Korea Zinc said it held a board meeting on November 4 and resolved to cancel 246,665 shares, or 51.4%, of the 479,737 treasury shares it holds in January 2027. The remaining 233,072 shares will be used over the next 10 years for employee compensation and other purposes.

The company is also again pursuing a stock split. It plans to submit the relevant proposal to its annual general meeting of shareholders in March 2027, with details such as the split ratio and record date to be determined later. The stock split proposal was approved at an extraordinary shareholders' meeting in January last year, but subsequent procedures were suspended amid lawsuits filed by MBK Partners and Young Poong.

The board also set the third-quarter dividend at KRW 5,000 per share. The dividend record date is November 29, and cumulative dividends for the first three quarters of this year total KRW 305.9 billion.

Revenue on a consolidated basis, announced on November 4, was KRW 6.0861 trillion, up 46.3% from the same period last year. Operating profit, meanwhile, fell 48.2% to KRW 141.7 billion. Revenue topped KRW 6 trillion for the third consecutive quarter, while the company posted an operating profit for the 107th consecutive quarter.

Korea Zinc said lower metal prices and exchange rates, as well as initial costs for its U.S. critical minerals smelter construction project, affected profitability. The company plans to improve profitability by diversifying its product portfolio, including expanding germanium production.

A Korea Zinc official said, "We will continue to pursue shareholder return policies while strengthening our core business competitiveness and future growth engines, so that the benefits of rising corporate value can be returned to shareholders."

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