Listed firms` 2008 dividends plunge on poor earnings

SEOUL, March 4 (Yonhap) -- Dividend payouts by listed companies in South Korea
tumbled more than 25 percent in 2008 from a year earlier due to their lackluster
performances, the bourse operator said Wednesday.
The nation's listed companies paid shareholders a combined 7.95 trillion won
(US$5.11 billion) in dividends for fiscal 2008, down 25.2 percent from 10.62
trillion won the previous year, the Korea Exchange said.
"The sharp decline is due mainly to sluggish corporate earnings," said a bourse
official.
Last year, most listed companies were battered by a prolonged economic slowdown
and escalating financial instability sparked by the U.S. subprime mortgage
debacle.
According to the bourse, foreign investors brought home 2.81 trillion won in
dividend income last year, down 40.6 percent from a year ago, as they sharply cut
holdings of South Korean shares.
Samsung Electronics, the largest firm by market capitalization, paid the most in
dividends at 808.8 billion won, followed by top steelmaker POSCO with 762.8
billion won, it said.
pbr@yna.co.kr
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