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Samsung chief Lee’s dividends up 11.2%

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Published : 2013-03-04 19:44
Updated : 2013-03-04 19:44

Lee Kun-hee, chairman of South Korean tech giant Samsung Electronics Co., is expected to see his dividend jump 11.2 percent on-year in 2013 due mainly to the company’s strong earnings last year, data showed Monday.

Lee will receive dividends worth 124.1 billion won ($114 million) for fiscal 2012, compared to 111.6 billion won a year earlier, according to the data compiled by Chaebul.com, which tracks the country’s conglomerates.
Lee Kun-hee

Market watchers said the increase came as Samsung Electronics’ net profit jumped 73.3 percent to 23.85 trillion won in 2012 on the strength of robust global sales. Lee owns a 3.38 percent stake in the tech behemoth.

Meanwhile, the combined amount of dividends paid out to top shareholders of South Korea’s 10 major business groups reached 259.9 billion won in fiscal 2012, up 1.5 percent from a year earlier.

Hyundai Motor Group Chairman Chung Mong-koo ranked second with dividends worth 48.3 billion won, up 6 percent from a year earlier despite the weak yen weighing down earnings. The group has Hyundai Motor Co. and Kia Motors Corp. under its wing.

Chey Tae-won, chairman of SK, ranked third with 23.8 billion won, followed by Chung Eui-sun, vice chairman of Hyundai Motor Group, with 22.5 billion won.

Also among the top dividend gainers were LG Group chairman Koo Bon-moo with 19.2 billion won and Hanwha Group chairman Kim Seung-youn with 7.6 billion won, the data added.

“While technology firms and carmakers paid out more dividends last year, shipbuilders and construction firms reduced their dividends due to stagnant performances,” said Jung Sun-sup, who heads Chaebul.com.

Chung Mong-joon, the largest shareholder of Hyundai Heavy Industries Group, is expected to receive dividend worth 19.3 billion won this year, down 37.5 percent from a year earlier, due to the stagnant shipbuilding industry.

Huh Chang-soo, the chief of energy and construction giant GS Group, also saw his dividend plunge 37.7 percent to 7.5 billion won over the cited period, according to the data. (Yonhap News)

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