POSCO to implement electronic voting for shareholders' meeting

POSCO will introduce electronic voting for its shareholders' meeting in March, a move to pursue a shareholder-friendly policy, the firm said Tuesday.

The steel maker said it decided to introduce the electronic voting system at a board meeting held Feb. 20.

“With the decision, shareholders can exercise their vote via online voting. This is to provide convenience for shareholders and is one of the firm's shareholder-friendly policies,” the firm said.

POSCO added that the firm has introduced a series of measures to increase value for f shareholders. The firm implemented an interim dividend payment in 2000 and a quarterly one in 2016.

To provide stable and sustainable investment earnings for investors, the firm said it has tried to maintain its dividend per share at between 8,000 won and 10,000 won since 2004 even though the firm saw some ups and downs during that period.

POSCO has made constant efforts to implement advanced governance, introducing an outside director system in 1997 for the first time among conglomerates in Korea. This is a method of separating ownership from management.

Thanks to the firm's efforts, POSCO has been recognized for its transparency and the independence of its corporate governance system, receiving high grades in annual rankings by the Korea Corporate Governance Service.