Check Dividend, then Invest
SK Inc. announced that its board of directors (BOD) held a meeting on July 26, in which the board declared to distribute an interim dividend of KRW 1,500 per share, matching last year’s payout. The total interim dividend payout amounts to approximately KRW 83.6 billion. SK Inc. has been distributing interim dividends for six consecutive years, or since 2018.
This interim dividend marks the first dividend payout after amending the Articles of Incorporation. The amendment, which was approved at SK Inc.’s general shareholders meeting in March 2023, aims to provide investors with key data so that they can make informed investment evaluations. It allows investors to make investment decisions after gaining information about the amount of dividends. In January 2023, the Financial Services Commission and the Ministry of Justice announced recommendations for listed companies to improve the distribution process for dividends. They proposed allowing the record date for interim dividends to fall after the distribution amount is decided.
The record date is set for August 10, 2023. The interim dividend is scheduled to be distributed before August 31 to shareholders.
SK Inc. is focused on strengthening the competitiveness of its major subsidiaries and investments in the following four sectors: advanced materials, bio, green, and digital.
SK powertech, which started mass production of SiC power semiconductors at its new plant in Busan in the first half of this year, aims to triple its production capacity by the fourth quarter of 2023 by optimizing its new plant. EV charging solutions provider SK signet continues to grow its US market share, having recently signed a major contract to supply more than 1,000 chargers to a US company following the completion of its factory in Plano, Texas.
Furthermore, SK pharmteco recently finished building its second cell and gene therapy plant, a groundbreaking biopharmaceutical facility located in France. The company is now gearing up for mass production, set to begin in early 2024. Simultaneously, SK pharmteco is making significant progress in attracting investments to bolster the global competitiveness of its high-growth bio business. SK biopharmaceuticals aims to establish growth engines in innovative new drugs, specifically focusing on radiopharmaceutical treatment therapy and targeted protein degradation treatments. This strategic direction is built on the success the company has achieved with its new drugs for epilepsy.
Furthermore, SK Inc. is actively developing a robust eco-friendly portfolio that can generate high future value. This portfolio includes projects such as small module reactors (SMR) and clean hydrogen technologies. Additionally, the company remains committed to investing in digital technology sectors, such as Artificial Intelligence (AI) and Web3.
SK Inc. plans to bolster its financial soundness in anticipation of potential macroeconomic uncertainties. The company is also dedicated to reinforcing its business competitiveness to ensure that business performance is closely aligned with corporate value.