Mgame will pay a quarterly cash dividend for the first time since its founding, rather than a year-end dividend.

Mgame said in a regulatory filing on Thursday it will pay its first-ever quarterly dividend. The dividend is set at 110 won per share, with a total payout of about 2 billion won. The record date was July 2.

Mgame has paid an annual year-end dividend each year since the 2023 business year. Under its corporate value enhancement plan submitted in March, the company plans to expand the dividend cycle from once a year to quarterly to step up shareholder returns.

Mgame previously decided to buy back its own shares worth a total of 4 billion won in two rounds in May and June to stabilise its share price and enhance corporate value. It plans to cancel all 430,000 shares bought back in May. Four registered executives, including Chief Executive Kwon Yi-hyung (권이형), as well as inside directors Jo In-han (조인한), Hong Deung-ho (홍등호) and Lee Jae-chang (이재창), also each bought 50 million won worth of company shares.

The company is also preparing to expand its lineup in its core games business. Mgame plans to launch an idle mobile game using the popular intellectual property (IP) "GwiHon" in the third quarter this year. It also plans to additionally roll out a new project that reinterprets the "Punglimhwasan" IP in a modern way and 1 mobile game publishing service.

Kwon said, "The introduction of this quarterly dividend is a meaningful start that strengthens shareholder return policies by one step, following share buybacks, cancellations and executives' share purchases." He added, "We will continue to build a company that grows together with shareholders, based on an active dividend policy and responsible management."