Upbit’s Parent Company Boosts Shareholder Dividends
Dunamu, the organization behind South Korea's Upbit exchange, has significantly boosted its cash dividend payouts for shareholders, tripling the amount given out compared to last year.
The company recently held a shareholder meeting where it disclosed financial results showing a significant increase in profits. Last year, each common stockholder will receive 8,777 Korean won ($5.99) per share, an increase from the 2,937 won ($2) per share paid out in the prior year.
The company’s financial statement also revealed that it is allocating approximately 300 billion won ($204.5 million) in dividends, marking a major distribution of its retained earnings. Dunamu reported an impressive 85.1% year-over-year increase in operating profits, reaching 1.18 trillion won ($809 million) for 2024. Additionally, net profits for the company surged by 22.2%, totaling 983.8 billion won ($671 million).
The company attributes this growth to a combination of factors, such as the bitcoin halving event and a general positive investment climate. Dunamu also highlighted the impact of the global liquidity increase linked to Donald Trump’s election and expectations surrounding U.S. interest rate cuts, which it believes played a significant role in its strong financial performance.
Upbit remains the largest crypto exchange in South Korea and a key player in the global exchange market, processing a record $101 billion in trading volume in February alone.
However, the exchange has recently come under the radar of local regulators. South Korea’s Financial Intelligence Unit raised concerns over potential breaches in know-your-customer (KYC) protocols and unregistered foreign exchange transactions. Although the FIU sought to impose restrictions on Upbit, a Seoul court ruled in favor of Dunamu, temporarily halting the penalties for 30 days.
Editorial Team
Reporter at Coindoo
