KT&G Corporation, Korea's state tobacco company, is raising its full-year earnings forecast because tobacco sales are stronger than expected and profit margins are improving, reported KED. This signals the company will be able to pay higher dividends.
KT&G operates under state ownership but runs as a regular business. The company sells cigarettes in Korea and exports premium brands to over 100 countries. KT&G's stronger guidance reflects steady market share in Korea's regulated tobacco market and success selling higher-priced products that make more profit.
Dividends from state companies like KT&G go into national government budgets. KT&G holds the exclusive legal right to make and distribute tobacco products in South Korea and sells these brands to customers around the world.
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| Symbol | Last Price |
|---|---|
| 033780KT&G Corporation | ₩172,500 -1.3% |