KB Financial Group to pay its first interim dividend

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KB Financial Group to pay its first interim dividend

KB Financial Group Chairman Yoon Jong-kyoo speaks during the group's executive meeting earlier this month in Seoul. [KB FINANCIAL GROUP]

KB Financial Group Chairman Yoon Jong-kyoo speaks during the group's executive meeting earlier this month in Seoul. [KB FINANCIAL GROUP]

 
KB Financial Group will pay an interim dividend for the first time ever.
  
The holding company was established in 2008.
 
It said in statement that it will distribute 750 won ($0.65) per share. The payout will total 292.2 billion won.
 
Payments to the owners will be made within the next 20 days.
 
Last month, the Financial Services Commission withdrew an earlier recommendation to limit the payout ratio to below 20 percent for banks and financial holding companies to brace for potential financial risks posed by the coronavirus pandemic. The measure was not legally binding, but most financial institutions followed the regulator’s advice.
 
On Thursday, the company announced its second quarter earnings. It posted 1.24 trillion-won net profit in the second quarter, up 22.7 percent on-year, but 5.2 percent less than the previous quarter. Net profit for the first half of the year was 2.47 trillion won, up 44.6 percent on-year.
 
 

BY KIM JEE-HEE [kim.jeehee@joongang.co.kr]
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