Shinhan Financial Group Announces First Quarterly Dividend Since Launch... Jo Yong-byeong Keeps Promise

300 Won per Share, Totaling 160.2 Billion Won

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@

[Asia Economy Reporter Kim Jin-ho] Shinhan Financial Group decided on its first quarterly dividend since its launch on the 13th. This is interpreted as reflecting the will of Shinhan Financial Chairman Cho Yong-byeong, who had promised investors a quarterly dividend.

On the same day, Shinhan Financial held a board meeting and announced the decision to pay a quarterly cash dividend of 300 KRW per share. Both common stock and convertible preferred stock will receive 300 KRW per share, with the total dividend amounting to approximately 160.2 billion KRW.

The record date for dividend payment was the end of June. The dividend payment is expected to be made within the next 20 days.

Since its establishment in 2001, this is the first time Shinhan Financial has issued an interim or quarterly dividend in addition to the year-end dividend.

Prior to the quarterly dividend decision, Chairman Cho emphasized during a meeting with reporters on the 10th, "Since we promised (to investors), we will keep it."

Meanwhile, Shinhan Financial's net profit for the second quarter of 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 reached 2.4438 trillion KRW, a 35.4% increase compared to 1.8055 trillion KRW in the same period last year, setting a record for the highest half-year profit since the holding company was established in 2001.

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