This year, the government has raised about 1.2 trillion won in dividend income through investment institutions. This is half of last year.
The Ministry of Strategy and Finance announced on the 26th that the dividend procedure for 39 government-invested institutions according to the 2022 fiscal year performance was completed. The Ministry of Strategy and Finance reported this fact to the National Assembly in accordance with Article 65-6 of the ‘State Property Act’ and announced the results.
According to the Ministry of Strategy and Finance, the total amount of dividends from 19 institutions that paid government dividends was 1,238.7 billion won. This is 50.5% of last year’s 2.45 trillion won. The institutional average dividend payout ratio (ratio of dividends to net profit) remained at the previous year’s level at 39.9%.
In terms of dividends by institution, Industrial Bank of Korea had the highest amount of 455.5 billion won. It was followed by Korea Land and Housing Corporation (LH) with 262.5 billion won, Korea Development Bank with 164.7 billion won, Korea Export-Import Bank with 93.2 billion won, and Korea Investment Corporation with 64.1 billion won.
The government said that 20 institutions that incurred net losses last year or had to make up for previous losses did not pay dividends this year. Institutions excluded from dividends are Korea Broadcasting Corporation (KBS), Housing and Urban Guarantee Corporation (HUG), and Korea District Heating Corporation, which turned into a loss last year.
Conversely, Incheon Port Authority (KRW 2.7 billion) and Korea Mint Corporation (KRW 2.1 billion), which did not pay dividends last year, turned to black, and Korea Water Resources Corporation (KRW 61.9 billion) paid dividends as the carryover loss was completed. In addition, the Korea Rural Community Corporation, the Korea Agro-Fisheries & Food Corporation, and the Korea Real Estate Agency, which cooperated with the government dividend, will be selected as excellent dividend institutions and receive commendations from the Deputy Prime Minister.
An official from the Ministry of Strategy and Finance said, “The government’s dividend payout ratio was determined after consultation with institutions and relevant ministries, taking into account not only net profit but also the funds necessary for stable management, such as the financial soundness of the dividend institution.”
Tags: Dividend income government investment institutions trillion won .. year