[Edaily Reporter Kim Hyung-il ] PLANTYNET Co., Ltd.(075130)has strengthened its shareholder return policy by paying its first interim dividend since going public. Independent research firm CMIR highly rated the company’s stable dividend policy and its appeal as an undervalued stock, maintaining its “Buy” investment rating and target price of 3,200 won.

Following the approval of an amendment to the articles of incorporation—which provides the basis for the interim dividend—at an extraordinary general meeting of shareholders on the 30th, PLANTYNET Co., Ltd.’s board of directors decided on the same day to pay an interim dividend of 100 won per common share. The total dividend amount is approximately 1.55866 billion won, with the record date set for the 14th of next month and the payment date scheduled for the 27th of the same month. Based on the disclosure, the dividend yield is 5.0%.

CMIR assessed that this interim dividend will not merely increase the frequency of dividends but will also serve as an opportunity to systematize the company’s shareholder return policy. Given that PLANTYNET Co., Ltd. has not missed a single year-end dividend since 2007, analysts predict that a year-end dividend is highly likely this year as well. Considering that, among domestic listed companies that pay semi-annual interim dividends, the year-end dividend is typically equal to or greater than the interim dividend, the year-end dividend is expected to be at least 100 won per share.

Accordingly, if both the interim and year-end dividends are paid at 100 won each, the annual dividend per share (DPS) will increase to 200 won. Based on the previous day’s closing price of 1,900 won, the expected dividend yield is approximately 10.5%.

CMIR also noted that the stock is attractive from a valuation perspective. Despite improving fundamentals, the stock price has remained around 1,900 won due to the overall weakness of the KOSDAQ market; the analysis indicates that the stock is undervalued, with a current price-to-book ratio (PBR) of 0.43x. The firm added that the stock holds high investment appeal as the company is strengthening its dividend policy based on stable cash generation.