[Edaily Reporter Ahn Yu-ri] #Pearl Abyss is set to pay its first dividend since its founding. The company plans to pay an annual dividend of either 10 billion won or 10% of its net income, whichever is greater.

Pearl Abyss announced its shareholder return policy plan containing these details on the 9th.

This plan concretizes the direction for enhancing corporate value announced at the regular shareholders’ meeting last March.

At the time of the meeting, Jo Mi-young, Pearl Abyss’s CFO (Chief Financial Officer), stated, “Red Desert has been successfully launched, and the company will transform it into a long-lasting, beloved IP.” She added, “We believe that through this process, the company will build the financial capacity to pay dividends to shareholders, and we are currently reviewing related policies.”

This plan also includes “treasury stock buybacks and cancellations.”

Pearl Abyss will cancel approximately 50% of its held treasury shares (4.4%), totaling 1,403,945 shares out of 2,803,945 shares.

Based on the closing price on the 8th, the value of the shares to be canceled is approximately 54 billion won, while the book value is approximately 17.3 billion won. The scheduled date for the cancellation is the 12th.

Pearl Abyss also plans to repurchase 100 billion won worth of treasury stock in the second half of this year.

This stock buyback is the first of its kind since the company’s founding. Pearl Abyss was listed on the KOSDAQ market on September 14, 2017.

Pearl Abyss stated, "We plan to enhance the competitiveness of our live service games while increasing corporate value based on new game development and technological capabilities."