SK Chemicals to Proceed with 50% Free Share Issue... 30% Dividend on Net Profit Over 3 Years

Resolution on Shareholder Return Policies Including Establishment of Mid-Term Dividend Policy

[Asia Economy Reporter Hwang Yoon-joo] SK Chemicals has announced a shareholder return policy, including a bonus issue, as part of its efforts to enhance corporate value through the transition to an ESG (Environmental, Social, and Governance)-based business model and growth.

On the 7th, SK Chemicals held a board meeting and decided to strengthen shareholder-friendly management through active shareholder return policies such as implementing a bonus issue and establishing and announcing a mid-term dividend policy.

First, SK Chemicals decided on a 50% bonus issue. For every one common share, 0.5 new shares will be allocated. The number of shares to be issued through this bonus issue (excluding treasury shares) is 5,869,384 common shares and 656,759 preferred shares, totaling 6,526,143 shares. After the increase, the total number of issued shares will be 17,620,780 common shares and 2,115,429 preferred shares. SK Chemicals plans to use the capital surplus as the source for the bonus issue. The record date for new share allocation is October 22, and the listing date is scheduled for November 9. By expanding the number of circulating shares and increasing liquidity, it is expected that smooth trading will be facilitated in the market.

Additionally, SK Chemicals has established and announced a mid-term dividend policy. The company plans to use 30% of the separate net income (excluding non-recurring gains and losses) generated from 2021 to 2023 as a resource for shareholder returns. It also plans to actively consider introducing an interim dividend system through amendments to the articles of incorporation.

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