SK to spend $59 mn in this year’s interim dividends

[Photo by Han Joo-hyung]

SK Inc., the holdings company of SK Group, said on Tuesday it would spend 82.6 billion won ($59.6 million) to issue interim dividends in 2024, with dividends of 1,500 won per share to be paid out by August 30th, 2024.

The 2024 dividends announcement marks the company’s seven-year consecutive distribution of interim payouts, defying market expectations that the recent merger between SK innovation Co. and SK E&S Co. could reduce the size of shareholder returns.

“Despite concerns that shareholder return policies would be affected by the merger of the subsidiaries, we have demonstrated our commitment to complying with a shareholder-friendly policy via our interim dividends,” an SK official said.

SK added that it had fulfilled one of the pledges made at its shareholders‘ meeting in 2022 to buy back and burn shares equal to 1 percent of its market capitalization each year until 2025.