POSCO Holdings: Announces Shares Buyback and Cancellation of Nearly 2 Trillion Won

• POSCO Holdings (005490 KS) announced a major shareholder return policy to buyback and cancel nearly 2 trillion won worth of treasury shares from 2024 to 2026.

• The company will cancel 5.25 million treasury shares representing 6.2% of outstanding shares (about 1.9 trillion won). It will also repurchase and cancel additional 100 billion won of shares.

• POSCO Holdings has taken a major initiative to provide greater returns to its shareholders and this should have a positive impact on its share price.