PKX · POSCO Holdings Inc.

POSCO Holdings Inc. has introduced a shareholder return policy for 2026-2028 that shifts to an earnings-based, performance-linked framework, aiming to position the company as a high dividend payer while enhancing visibility for investors. The policy targets a 35-40% shareholder return ratio, comprising dividends plus buybacks and cancellation of treasury shares, directly funded by adjusted Net Income Attributable to Controlling Interests. This adjusted metric specifically excludes non-operating items and one-off valuation gains or losses, ensuring returns are tied to core operational performance on an annual basis. The disclosure was made during the 1Q 2026 Earnings Conference Call on April 30, 2026, at 3:00 pm KST, targeting institutional investors, analysts, and the press. While this provides a clear framework for capital allocation, investors should note that execution plans remain flexible and subject to adjustments based on prevailing business environments and market conditions. Ultimate implementation requires approval from the Board of Directors or the Ordinary General Meeting of Shareholders, introducing some governance dependency. This policy signals management's commitment to shareholder value creation through predictable, performance-aligned returns, potentially supporting stock valuation multiples in a competitive dividend landscape.