Seoul: POSCO Holdings Inc., South Korea's leading steelmaker, announced plans to cancel 635.1 billion won (US$439 million) worth of treasury shares this year as part of its initiative to enhance shareholder value. The cancellation accounts for 2 percent of the company's total treasury shares and is part of a larger three-year plan to retire 1.7 trillion won, or 6 percent of its total treasury shares, between 2024 and 2026.
According to Yonhap News Agency, POSCO Holdings will maintain a dividend of 10,000 won per share this year, despite global economic challenges and increasing protectionism in crucial export markets. In 2025, the company's net profit saw a significant decline, dropping 47 percent to 500 billion won from 950 billion won the previous year. This drop is partly attributed to the sweeping U.S. tariffs on steel imports, with the United States currently imposing a 50 percent tariff on steel imports from South Korea.