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(Seoul=NSP NEWS AGENCY) = Hyundai Department Store Group said that its holding company, Hyundai G.F. Holdings, and 10 listed affiliates within the group, including Hyundai Department Store, Hyundai Home Shopping, and Hyundai Green Food, have each held board meetings and established mid- to long-term dividend policies(2024-2026).

According to its med- to long-term dividend policy, Hyundai Department Store will raise its minimum dividend to more than KRW 1,300 per share for the next three years from the previous minimum of KRW 1,000 per share, and Hyundai Home Shopping decided to guarantee shareholders a dividend of more than KRW 2,500 per share for the next three years.

In line with the dividend policy announced in January last year, Hyundai Green Food and Hyundai G.F. Holdings decided to set the total dividend at a higher level than before the spin-off and paid-in capital increase. Hyundai Green Food has decided to pay a dividend of at least KRW 325 per share for the next three years. Hyundai G.F. Holdings has also established a policy of paying at least KRW 150 per share, and announced a proposal to pay KRW 200 per share in 2023, an increase of KRW 50.

Five affiliates, including Handsome, Hyundai Livart, Hyundai Ezwel, Daewon Kangup, and Hyundai Everdigm, established a mid- to long-term dividend policy for the first time in line with the group’s policy of proactively improving shareholder value. These companies plan to maintain the minimum dividend payout ratio(dividend ratio) in the 10-20% range for the next three years.

“Although this year’s operating performance of each affiliate is a variable, we expect the dividend size in 24 to increase compared to 23 with the establishment of a mid- to long-term dividend policy.” said a Hyundai Department Store Group official.

Hyundai Department Store Group’s overall dividend size in 2023 is expected to reach KRW 166.9 billion, up 16.4% from KRW 143.4 billion in 2022.

By Soon-ki Lee(s8789@nspna.com) and Bok-hyun Lee(bhlee2016@nspna.com)

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