PANews reported on March 28 that according to The block, Dunamu, the company behind South Korea's largest cryptocurrency exchange Upbit, tripled its cash dividends to common shareholders from the previous year after reporting a sharp increase in profits last year. At the shareholders' meeting, Dunamu approved last year's financial statements, with a dividend of 8,777 won (5.99 U.S. dollars) per common share, compared with 2,937 won (2 U.S. dollars) per share the previous year. According to official disclosures, the company has allocated a total of nearly 300 billion won (204.5 million U.S. dollars) for cash dividends in the "allocation of retained earnings" project.
Upbit's parent company's operating profit for 2024 increased 85.1% year-on-year to about 1.18 trillion won (809 million U.S. dollars). Net profit for the full year increased 22.2% to 983.8 billion won (671 million U.S. dollars). "The growth in sales and operating profit seems to be affected by factors such as the Bitcoin halving and favorable investment sentiment," Dunamu said.
