Hyundai Construction "Increase in Shareholder Dividends and Introduction of Electronic Voting System"

[Asia Economy Reporter Yuri Kim] Hyundai Engineering & Construction announced on the 15th that it will increase its year-end dividends and introduce an electronic voting system.

Hyundai Engineering & Construction disclosed that it will raise the cash dividends from 500 KRW per common share and 550 KRW per preferred share last month to 600 KRW per common share and 650 KRW per preferred share. The total dividend amount is approximately 66.9 billion KRW, an increase of nearly 20% compared to the previous year.

The company stated, "Retained earnings, which affect the dividend amount, also increased by about 340 billion KRW compared to the end of 2018, reaching 5.3252 trillion KRW as of the end of 2019."

Hyundai Engineering & Construction also plans to adopt electronic voting and electronic proxy forms at the shareholders' meeting scheduled for the 19th, allowing shareholders to exercise their voting rights through the Korea Securities Depository's 'K-eVote' system.

Hyundai Engineering & Construction said, "Starting this year, we will take the lead in the construction industry by implementing electronic voting to encourage shareholders to actively participate in the shareholders' meeting and further strengthen shareholders' rights."

The electronic voting system allows shareholders to exercise their voting rights online for 10 days before the shareholders' meeting without physically attending, once the company registers the shareholder list and meeting agenda in the electronic voting system. Hyundai Engineering & Construction stated, "By introducing the electronic voting system, we will build a more transparent decision-making system that prioritizes shareholder interests."

Meanwhile, Hyundai Engineering & Construction added that it has been making efforts to expand communication with shareholders by establishing a Transparent Management Committee in 2018 and introducing a shareholder recommendation system.

This content was produced with the assistance of AI translation services.