KEPCO decides to skip dividend payouts for 2008

SEOUL, March 20 (Yonhap) -- Korea Electric Power Corp. (KEPCO), South Korea's
state power company, said Friday it decided not to pay dividends for fiscal 2008
because of a poor performance.
The decision was made at an annual shareholders' meeting, KEPCO said. It is the
first time that the power company has skipped a dividend payout since it was
listed in 1989.
KEPCO posted a net loss of 2.95 trillion won (US$2.1 billion) in 2008, compared
with a profit of 1.55 trillion won a year ago, due to increased costs resulting
from record oil and coal prices.
Its operating loss reached 3.66 trillion won, down from an operating profit of
330 billion won the previous year.
Shares of KEPCO rose 0.19 percent to finish at 26,650 won on the Seoul bourse.
ksnam@yna.co.kr
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