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Samsung’s Lee named biggest dividend recipient

Lee Kun-hee

Publication Date : 12-02-2014

 

Samsung Group chairman Lee Kun-hee is expected to receive 107.9 billion won (US$100 million) worth of dividends this year to mark the fourth consecutive year that he received dividends of over 100 billion won from Samsung’s subsidiaries, according to Chaebul.com, an information provider on large businesses.

This year’s figures reflect a 4.4 per cent increase from the 103.4 billion Lee received in 2013.

The group’s electronic flagship will pay 71.5 billion won to Lee this year, the highest among Samsung companies.

This is an increase of about 80 per cent from last year, thanks to positive earnings on brisk sales of Samsung Electronics’ Galaxy S smartphones worldwide.

Samsung Electronics posted record sales of 228 trillion won last year, up 13.7 per cent from a year earlier. The company’s sales have topped 200 trillion won for two consecutive years. The company’s operating profit reached 36 trillion won, which reflects a rise of 26.6 per cent from 2012

The increased dividend payment to the chairman from Samsung Electronics will offset the decreased dividend from Samsung Life Insurance.

Samsung Life’s dividend payment to Lee is projected to drop 43 per cent to 35.3 billion won this year amid a slowdown in the financial sector, Chaebul.com data said.

Lee is the biggest shareholder of Samsung Life, which is the biggest shareholder of Samsung Electronics. The chairman’s stake in Samsung Life reaches around 20 per cent, compared with the 3 per cent stake he holds in Samsung Electronics.

Meanwhile, the second-biggest dividend recipient among local business tycoons will be the Hyundai Motor Group chairman, who is expected to receive 49.3 billion won this year, up about 2 per cent from last year, Chaebul.com said.

Hyundai Motor will pay 22.2 billion won to the chairman, the highest among the group’s companies, followed by Hyundai Mobis’ payment of 13.2 billion won and Hyundai Glovis’ 6.5 billion won.

SK Group chairman Chey Tae-won would rank third among conglomerate owners as he is expected to receive dividends of 28.6 billion won this year.

This is an increase of 20 per cent, the highest rate for dividends earned by chaebol owners.

US$1 = 1,070 won

 

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