Kim Hyun-bin began his journalism career at Arirang TV from 2012 to 2017, specializing in defense, foreign affairs and the economy. In 2018, he joined The Korea Times, covering society and business, and is currently responsible for embassy affairs.
SK Inc. to pay interim dividends at 1,500 won per share
SK building in Seoul / Korea Times file
By Kim Hyun-bin
By Kim Hyun-bin
SK Inc. said Thursday that it will issue interim dividends for the fifth consecutive year to continue its shareholder return commitment.
SK Inc. held a board meeting and decided to pay an interim dividend of 1,500 won ($1.14) per share matching its previous year, despite the uncertain business environment, Thursday. The total payment amount is similar to last year at 85 billion won.
This marks the fifth consecutive year SK Inc. has paid interim dividends. After the first interim dividend of 1,000 won per share in 2018, the company has been consistently paying interim dividends in subsequent years.
At the regular general shareholders' meeting in March, SK Inc. announced a stronger shareholder return policy to buy back 1 percent or more of its market cap each year through 2025.
SK Inc. is concentrating on strengthening the competitiveness of its four core investment businesses, advanced materials, biopharmaceutical, green energy and digital technologies while building solid foundations and investing in future core industries.
“This year, SK Inc. focuses on identifying growth drivers and securing distinctive competitiveness for respective core businesses,” Lee Sung-hyung, CFO of SK Inc. said. “The firm is committed to ensuring business achievements that will lead to a greater enterprise value.”
In January, the company invested $350 million in the Center for Breakthrough Medicines (CBM), a U.S. cell and gene therapy (CGT) contract development and manufacturing (CDMO) company, and became the second largest shareholder, securing innovative drug production capabilities in the U.S.
The company also acquired France's Yposkesi, a CGT CDMO company last year, which is expected to complete the construction of its second plant within this year and enter mass commercial production in 2023.
In May, SK Inc. also entered the Small Modular Reactor (SMR) market, which is attracting attention as a safe nuclear power source that is carbon-free.
Meanwhile, the company is leading efforts in ESG. In 2018, the company enacted the 'Corporate Governance Charter' for the first time for a large domestic holding company, and in March of last year, the ESG Committee and Nomination & Compensation Committee were newly established to further strengthen the role of the board of directors.