[Edaily Reporter Shin Su-jeong] Orion Holdings and Orion will cancel all of their treasury shares. Following the corporate value enhancement plan announced last March, the companies are accelerating their shareholder return policies by implementing treasury share cancellations after previously expanding dividends.

#Orion Holdings and #Orion announced on the 16th that they each held board meetings and resolved to cancel all of their held treasury shares. The scheduled date for the cancellation is the 23rd.

Orion Holdings will cancel 2,488,770 treasury shares. This represents 3.97% of the total issued shares. Based on book value, this amounts to 11.6 billion won, and based on the closing price on the 15th, it is worth approximately 66.5 billion won.

Orion will cancel 7,344 treasury shares. This represents 0.02% of the total issued shares. Based on book value, this amounts to 600 million won, and based on the closing price on the 15th, it is worth approximately 1 billion won.

This decision is a follow-up measure to the corporate value enhancement plan announced by the Orion Group last March. At that time, Orion Holdings announced that it would cancel 2,488,770 treasury shares held by the company within the year in accordance with the revised Commercial Act. The specific cancellation schedule was finalized through a board resolution on this day.

Following this year’s dividend increase, Orion Group is continuing its shareholder return initiatives by deciding to cancel treasury shares. Previously, Orion and Orion Holdings strengthened their shareholder value enhancement measures by increasing dividends. It is reported that Orion’s consolidated dividend payout ratio has risen by 10 percentage points from last year to 36%, while Orion Holdings’ has increased by 25 percentage points to 55%.

An Orion Group official stated, “We are continuously strengthening our shareholder return policies, such as deciding to repurchase and cancel treasury shares following this year’s dividend increase,” adding, “We will continue to build a virtuous cycle where sustained growth leads to enhanced shareholder value.”