Kangwon Land announces first dividend since 2020

Kangwon Land has recommended a dividend after returning to profit last year.

South Korea.- Kangwon Land, the operator of South Korea’s only casino open to locals, has recommended its first dividend payout in three years following a positive financial performance in 2022. 

The firm suffered significant losses during the Covid-19 pandemic, but reported net income of KRW115.6bn for the year ended December 2022 due to the normalisation of casino operations following the lifting of Covid-19 restrictions. 

The proposed dividend of KRW350 (US$0.264) per share represents a yield of 1.5 per cent and totals nearly KRW70.96bn. Shareholders are expected to approve the payout at a meeting on March 29.