Shin Yong-byeong, Shinhan Financial Group Chairman, "I Will Keep the Promise of Quarterly Dividends"
"No conflict with financial authorities... under consultation"
Shin Yong-byeong, Chairman of Shinhan Financial Group, is attending a closed-door 'COVID-19 Financial Sector Issues Meeting' held on the 10th at the Korea Federation of Banks in Jung-gu, Seoul. Photo by Moon Ho-nam munonam@
View original image[Asia Economy Reporter Kim Jin-ho] Cho Yong-byeong, Chairman of Shinhan Financial Group, emphasized on the 10th regarding the controversy over 'quarterly dividends' that "since we made a promise (to investors), we will keep it."
Chairman Cho made these remarks to reporters before attending the 'COVID-19 Financial Sector On-site Meeting' held at the Bankers' Hall in Myeong-dong, Jung-gu, Seoul on the same day.
Chairman Cho said, "We have decided to proceed with quarterly dividends every quarter," adding, "There is no conflict with financial authorities as some media have pointed out, and we are discussing the issue well."
He continued, "If a promise is made, it must be kept, and if it is said that there will be no quarterly dividends, it could cause international problems."
Shinhan Financial Group is known to decide on whether to pay quarterly dividends and the dividend amount at the upcoming board meeting. Earlier, during the Q2 earnings announcement, Shinhan Financial Group Vice President Noh Yong-hoon stated, "As of the end of June, the dividend is planned as a quarterly dividend, not an interim dividend," and added, "We will carefully decide through quarterly board meetings after closely monitoring market conditions such as the resurgence of COVID-19."
Hot Picks Today
"Stocks Are Not Taxed, but Annual Crypto Gains Over 2.5 Million Won to Be Taxed Next Year... Investors Push Back"
- "Even With a 90 Million Won Salary and Bonuses, It Doesn’t Feel Like Much"... A Latecomer Rookie Who Beat 70 to 1 Odds [Scientists Are Disappearing] ③
- "Who Is Visiting Japan These Days?" The Once-Crowded Tourist Spots Empty Out... What's Happening?
- "Am I Really in the Top 30%?" and "Worried About My Girlfriend in the Bottom 70%"... Buzz Over High Oil Price Relief Fund
- "It Has Now Crossed Borders": No Vaccine or Treatment as Bundibugyo Ebola Variant Spreads [Reading Science]
Shinhan Financial Group's net profit for Q2 this year was 1.2518 trillion KRW, an increase of 43.4% (378.7 billion KRW) compared to the same period last year. In particular, the net profit for the first half of the year recorded 2.4438 trillion KRW, a 35.4% increase compared to the same period last year (1.8055 trillion KRW), setting a half-year record since the holding company was established in 2001.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
