Business Performance Worsens Due to COVID-19
KTB Investment said on July 6 that 48 listed companies are expected to make an interim dividend payment of 3.1 trillion won for the first half of this year. The size of the payment is estimated to fall for the first time in four years as the listed companies’ Q2 business performance deteriorated in the wake of COVID-19.
In the second quarter, listed automakers and oil refining companies decided to provide no dividend after taking a direct hit from declines in automobile sales and oil prices. The examples include Hyundai Motor Company, Hyundai Mobis, SK Innovation and S-Oil, which paid interim dividends for the preceding five years.
Last year, Hyundai Motor’s interim dividend payment was 263 billion won, second only to Samsung Electronics’ 2,204.6 billion won. That year, those of SK Innovation, Hyundai Mobis and S-Oil were 141.1 billion won, 94.7 billion won and 11.6 billion won, respectively.