Koreas intravenous solution maker JW Life Science announced on Feb. 18 that it has decided to give 500 won (US$0.44) dividend per share, which amounts to around 7.91 billion won in total.
Established in 1994, the firm is a subsidiary of JW Holdings which holds around 43.1 percent stake in Korea’s largest intravenous solution unit. JW Life Science currently dominates 40 percent of the market here which is worth around 320 billion won.
According to industry sources, the company decided to hike dividends because it saw stable and high sales of its intravenous solution as the top player in the market. Its sales surged from 12.59 billion won in 2015 to 14.36 billion won in 2017.
Its operating profit also jumped from 18. 7 billion won to 23.8 billion won during the same period. Although last year the company’s profit slipped slightly by around 0.25 percent, due to the increase of corporate taxes, it still saw 23.7 billion won operating profit.
It currently is hoping to export its intravenous solutions to 18 European countries to further expand its business. Last April, the company received a Good Manufacturing Practice certificate from the European Medicines Agency for its intravenous solutions facility.
By Song Seung-hyun (email@example.com)