Hyundai Glovis Increases Dividend to 5,700 Won... 50% Rise Compared to Previous Year

Operating Profit of 1.7985 Trillion KRW

[Asia Economy Reporter Oh Gyumin] Hyundai Glovis announced on the 31st that it passed a board resolution to increase the year-end dividend by 50% compared to the previous year, setting it at 5,700 KRW per share. It also disclosed plans to raise the dividend per share by at least 5% and up to 50% based on the previous year's dividend by 2024.

The company explained that it set a corresponding dividend to return profits to shareholders based on solid performance and stable business results.

[Photo by Hyundai Glovis]

Hyundai Glovis recorded sales of 26.9819 trillion KRW last year, a 23.9% increase compared to the previous year. Operating profit rose by 59.7% to 1.7985 trillion KRW. Net profit increased by 52.3% to 1.1928 trillion KRW. Previously, under the three-year dividend policy established in 2019, dividends were set within a 0-10% increase range. This flexible dividend policy aims to enhance predictability for shareholders.

A Hyundai Glovis official stated, “We plan to continue enhancing corporate credibility among domestic and international investors through various activities that increase shareholder value, including expanding dividends.”