Following engagement from Dalton, the company announced an increase in its shareholder return (buybacks and dividends) to 45% of net income per annum for the next three years, marking a significant increase from the 30% shareholder return outlined in its first 3-year “Value up” plan. The company’s payout ratio was a mere 10% only 3 years ago. Dalton continues to see great opportunity in the Korean market, where there is an abundance of high-quality companies trading at low valuations, with the potential for engagement to add material value through improved capital allocation, rationalization of overly complex company structures and improved alignment of interests with minority shareholders. Read the article here.
