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Biz News Korea(Eng)

Cheil Worldwide to double dividend payout from this year’s earnings

Collected: 2017.12.20

Distributed: 2017.12.22

Source: Go Direct

South Korea’s leading advertising agency Cheil Worldwide Inc. has decided to nearly double its dividend payout ratio to 60 percent this year from last year’s 34.4 percent.

The decision passed board meeting on Wednesday, the ad agency affiliated to Samsung Group said in a disclosure statement.

At 1:25 p.m. Wednesday, its stock was up 4.76 percent at 22,000 won ($20.3).

Dividend payout ratio is the percentage of net earnings paid to shareholders in dividends.

Cheil Worldwid rewarded shareholders in a ratio round 40 percent from 2007 to 2010 and did not pay any from 2012 to 2014.

The spike in dividend payout is in line with the overall Samsung Group’s endeavors to bolster shareholder value.

The final payout scheme will be decided in January and seek shareholders’ approval.

By Hwang Soon-min and Lee Eun-joo

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