Capital Research and Management boosts KT&G stake to 8.22 percent

Regulatory filings on the DART system confirm the firm now holds 8.528 million shares of KT&G. This represents a steady climb from the 5.61 percent stake reported in May and the 7.21 percent position disclosed in June. The latest transaction involved the purchase of an additional 1.04 million shares by the asset manager, which oversees a 3.3 trillion USD portfolio.

The investment follows a strong first quarter for KT&G, which saw revenue reach 1.7036 trillion KRW, a 14.3 percent increase year-over-year. Operating profit surged by 27.6 percent to 364.5 billion KRW, bolstered by record-breaking global cigarette sales and strategic price adjustments. KT&G management intends to introduce enhanced shareholder return policies in the second half of the year, leveraging this qualitative growth to drive dividend payouts.