Maeil Dairies Q1 2026: Operating Profit Surges 44.6%; Dividend Increase and Treasury Stock Policy Positive

Consolidated operating profit KRW 187.9bn (+44.6% YoY), revenue KRW 469.9bn (+2.4%)
Net profit (controlling) KRW 18.8bn (vs. estimated KRW 11.2bn in prior year)
Cash dividend per share KRW 1,300 (vs. KRW 1,250 last year, 3-year increase trend), payout ratio ~28%
Treasury shares 345,627 shares (4.51%); shareholder meeting approved holding/disposal plan (potential cancellation)
Debt ratio 70% (stable vs. 69% at year-end), low debt dependence
Market leader in premium products (lactose-free, organic milk, Greek yogurt); leading plant-based beverages
Completed absorption merger of subsidiary Maeil Health Nutrition (May 1, 2026, capital-free merger)
Repaid KRW 200bn of 5-1 unsecured bonds (April 29, 2026), improving financial structure
R&D expenses KRW 2.7bn (0.56% of sales); launched 6 new products