Handsome Corporation canceled 960,753 treasury shares (4.28% of outstanding shares) on April 28, 2026, reducing total shares from 22,437,747 to 21,476,994. This directly boosts per-share value and is a strong shareholder return measure.
The company maintains a cash dividend of 750 won per share and established a mid-to-long-term (2024-2027) dividend policy targeting at least 15% of separate operating profit and a minimum dividend of 750 won per share. The 2025 payout ratio was 34.8% (consolidated), slightly down from the prior year but maintaining stability.
Under its Value-up Plan, Handsome targets PBR of 0.5x, ROE of 6%, and cumulative shareholder return rate of 35% for 2024-2027. As of end-2025, PBR stood at 0.3x and ROE at 3.3%, below targets, but cumulative shareholder return over two years reached 54.3 billion won, achieving a 60.1% return rate, exceeding the plan.
The company complies with all core governance indicators, operating a board and audit committee centered on outside directors, electronic voting, 4-week advance notice of shareholder meetings, and dividend predictability.
[AI Comprehensive Analysis]Handsome's share cancellation and dividend policy send a strong positive signal for shareholder value. The 4.28% cancellation rate provides significant upward momentum for the stock price in the near term. However, achieving its PBR and ROE targets requires improved profitability, and careful monitoring of consumer sentiment recovery and the fashion industry cycle is necessary.