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Games & Commerce

Mgame Q2 operating profit falls 9.4 percent to 2.44 billion won

Mgame reported second-quarter consolidated revenue of 21.26 billion won and operating profit of 2.44 billion won, it said in a filing on Thursday. Revenue rose 6.4 percent from a year earlier, while operating profit fell 9.4 percent and net profit dropped 56.7 percent to 717 million won. First-half revenue totalled 45.5 billion won. The company cited tax and financial asset valuation factors for the net profit decline.

Games & Commerce

Mgame to pay first-ever quarterly dividend to boost shareholder returns

Mgame will pay a quarterly cash dividend for the first time since its founding, instead of an annual year-end dividend. The company set the dividend at 110 won per share, for a total payout of about 2 billion won, with a record date of July 2. It is expanding dividend payments from once a year to quarterly. Mgame also decided on 4 billion won in share buybacks and plans new game launches.

Games & Commerce

Mgame to cancel treasury shares and buy more to boost shareholder value

Mgame will cancel all treasury shares it has already acquired to enhance shareholder value. The company disclosed it will cancel 430,000 shares bought on the open market in May, equal to about 2.24 percent of issued shares. It also approved an additional buyback worth about 2 billion won, to be conducted through the Kosdaq market by Sept. 26, with shares to be cancelled later.