▲ CJ Logistics
CJ Logistics is pushing for a distribution-in-kind dividend that directly allocates treasury shares to its shareholders.
CJ Logistics announced today (October 29) that it has decided to distribute 1.14 million treasury shares, equivalent to approximately 5% of its total issued shares, as a dividend-in-kind to existing shareholders.
The dividend plan will be submitted as an agenda item at the extraordinary general meeting of shareholders scheduled for December 3, and specific schedules and payment methods will be finalized at a later date.
A distribution-in-kind is a method in which a company directly pays out its treasury shares in proportion to the stakes held by existing shareholders. CJ Logistics will distribute 1 share for every 20 shares held by shareholders.
Following this dividend-in-kind, CJ Logistics plans to actively review additional shareholder return measures utilizing its remaining treasury shares.
(Photo: Provided by CJ Logistics, Yonhap News)
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