Overview

• KT&G signed a comprehensive memorandum of understanding with Altria covering nicotine and non‑nicotine businesses, unveiled at the company’s CEO Investor Day in Seoul.
• Both companies plan a joint acquisition of Another Snus Factory to expand in nicotine pouches, with KT&G’s network slated to roll out ASF’s LOOP and Altria’s on! brands, and further operating details to follow.
• KT&G set a minimum annual dividend of 6,000 won per share, up 600 won, and launched an additional 260 billion won share repurchase and cancellation program funded by non‑core asset sales beginning Sept. 24.
• The shareholder‑return framework targets a total payout ratio of at least 100 percent, maintains a dividend payout ratio above 50 percent, sets a minimum dividend yield, and allows flexible buybacks when the stock is undervalued.
• The company reiterated double‑digit revenue and operating‑profit growth targets for 2025, citing five straight quarters of global cigarette ‘triple growth’ and sharply higher profitability in the first half.