KT&G will repurchase 2,071,346 of its own shares on the open market for approximately 360 billion won ($264.9 million) and cancel them in full. The shares represent about 2% of total shares outstanding. The program runs from Sept. 23 through Dec. 22, with NH Investment & Securities and Shinhan Securities serving as lead managers. The move implements a plan announced in February to repurchase and cancel at least 300 billion won in additional treasury shares. KT&G’s earlier cancellations, including 3.3 million shares in February and all 10,866,189 treasury shares held in April, brought its cumulative cancellation ratio to 22.4%, exceeding the more than 20% target set in its November 2024 shareholder-return plan. The company aims to return more than 3.7 trillion won to shareholders from 2024 through 2027 through dividends and buybacks, while targeting total shareholder returns of at least 100% of net income and a dividend payout ratio of at least 50%. First-half revenue rose 12.0% to 3.4052 trillion won and operating profit increased 22.6% to 779 billion won, supported by overseas cigarette and next-generation product businesses. KT&G raised its interim dividend by 600 won to 2,000 won per share and plans to announce a new shareholder-return policy focused on dividend enhancement in the fourth quarter. The announcement helped the stock recover from an intraday low of 169,800 won and close at 174,400 won, up 0.35%.