Shinhyup Distributes 193.2 Billion KRW in Dividends to Members... 40 Billion KRW Increase from Previous Year

[Asia Economy Reporter Song Seung-seop] Shinhan Credit Union paid dividends close to 200 billion KRW based on last year's performance.

According to the National Credit Union Federation on the 26th, last year's net profit was 515.4 billion KRW. Of this, 37%, or 193.2 billion KRW, was decided as dividends. This is an increase of 39.8 billion KRW compared to the previous year. Capital dividends amounted to 181.7 billion KRW, and patronage dividends were 11.5 billion KRW. However, in preparation for increased economic uncertainty, the policy of 'first internal reserves, then member dividends' was maintained.

The average dividend rate of credit unions nationwide was calculated at 2.90%. This means that when a member invested 10 million KRW for one year, they received about 290,000 KRW as dividends. Capital contributions up to 10 million KRW are exempt from dividend income tax (14% income tax and 1.4% agricultural special tax), so the effective interest benefit is higher.

The dividend rate was confirmed at the members' general meeting in February and paid to members nationwide last month.

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