Kangwon Land holds 2022 dividend as profit returns
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Kangwon Land, the nation's only domestic casino resort operator, has recommended a final dividend of 350 won (US$0.264) per share for the year ended Dec. 31, 2022. It is the first dividend in two years after Kangwon Land's suspension, which has been negatively affected by the COVID-19 pandemic and related travel restrictions.
Kangwon Land, Inc. said in a filing with the Korea Exchange on Thursday that its 2022 dividend yielded a dividend yield of 1.5% based on the current market price of the company's shares.
The total annual dividend for 2022 is close to 70.96 billion won, the company said. It will be paid according to approval at the company's general shareholders' meeting on March 29, it added.
South Koreans can only gamble at Kangwon Land Casino Resort (pictured) in the highlands of Gangwon Province, 150 kilometers (93 miles) from the capital, Seoul.
Kangwon Land returned to the black in 2022 with a net profit of 115.6 billion won. It said this was because the nation's "casino operating environment" was "normalized" after social distancing policies related to the COVID-19 pandemic were scrapped in April.
BY: 슬롯머신