Hanil Cement Achieves Record Performance in 2023

Despite the downturn in the construction industry, Hanil Cement has announced an increase in its dividend payout, supported by strong performance throughout 2023.

Hanil Cement Achieves Record Performance in 2023

The company declared a year-end dividend of 800 won per share, a 38% increase from the previous year's 580 won, with total dividends amounting to 55.4 billion won, surpassing the previous record in 2022 by 15.2 billion won.

Hanil Cement's decision to increase its dividend payout is a reflection of its exceptional performance in 2023. The company reported revenues of 1.7995 trillion won and operating profits of 246.5 billion won, marking a 21% and 109% growth, respectively, from the previous year. This achievement represents the highest performance since the company's demerger in 2018.

Over the past decade, Hanil Cement has been recognized as a high-dividend stock, consistently increasing its dividend payouts. From 18.6 billion won in 2018 to 19.4 billion won in 2019, and reaching 34 billion won in 2021 and 40.2 billion won in 2022, the company has shown steady growth in shareholder returns.

Furthermore, Hanil Cement's subsidiary, Hanil Hyundai Cement, also increased its dividend to 700 won per share, up from 600 won the previous year, with total dividends rising from 11.5 billion won to 13.5 billion won.

Industry observers link Hanil Cement's dividend increase to its efforts in strengthening ESG (Environmental, Social, and Governance) management. The company established an ESG Management Promotion Committee in March 2021 and achieved an integrated 'A' grade in last year's ESG evaluation, placing it in the top 25% of 791 KOSPI-listed companies.

Source: NewDaily