Financial Authorities Halt Shinhan Financial's Dividend Plan

Financial authorities have put the brakes on Shinhan Financial Group's dividend plan. On the 27th, according to sources in the financial sector, the Financial Services Commission (FSC) conveyed to Shinhan Financial Group that it should consider the COVID-19 situation in its dividend promotion plans.

The FSC's position is that an overall scale amounting to a 'dividend feast' is undesirable in light of the hardships faced by economic agents.

On the same day, Shinhan Financial Group announced its first-half performance, stating, "As of the end of June this year, we are considering paying equal quarterly amounts to shareholders based on last year's dividend per share." Shinhan Financial Group's dividend payout ratio for last year's settlement was 22.7%.