KT to pay $88.7 million in cash dividends to shareholders in Q2

KT, a major Korean mobile carrier, said Tuesday it will pay out a combined 122.9 billion won ($88.7 million) in cash dividends to its shareholders for the second quarter as part of its plans to increase shareholder value.

KT's headquarters in central Seoul [YONHAP]

KT, a major Korean mobile carrier, said Tuesday it will pay out a combined 122.9 billion won ($88.7 million) in cash dividends to its shareholders for the second quarter as part of its plans to increase shareholder value.

Shareholders will receive 500 won per share on July 30, according to the Korean company.

KT also distributed 500 won per share in dividends in the first quarter in line with its midterm shareholder return policy announced last year.

Under this policy, the company adopted a quarterly dividend payout starting this year, with a plan to hand out at least 1,960 won per share in annual dividends to its shareholders until 2025.

In May, the company canceled about 2 percent of its total shares, worth 178.9 billion won, to boost its stockholder value.

Yonhap