[Concall] LG Uplus "This Year's Dividend Will Not Be Absolutely Less Than Last Year"

[Asia Economy Reporter Cha Min-young] Lee Hyuk-joo, Vice President and Chief Financial Officer (CFO) of LG Uplus, stated during the 2021 Q1 earnings conference call on the afternoon of the 12th, "I assure you that this year's dividends will not be absolutely less than last year's."

Regarding concerns about the dividend policy from some quarters, Vice President Lee said, "From our perspective, better performance than last year and shareholder returns are the fundamental basis of management."

There were concerns in the market that despite increased profits this year, the total dividend amount would not increase compared to last year. This is because LG Uplus's official dividend payout ratio forecast for 2021 is set at "30% or more." In 2020, LG Uplus's dividend payout ratio was 43% based on net profit.

He added, "This year, we plan to achieve much better performance compared to last year. We also plan to provide dividends in a better manner than the results given to shareholders."

Meanwhile, LG Uplus achieved an operating profit of 275.6 billion KRW in Q1 this year on a consolidated financial statement basis. This is a 25.4% increase compared to the same period last year. Operating revenue (sales) during the same period increased by 4.0% to 3.4168 trillion KRW.