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SK Innovation to pay out 1st interim dividends

July 26, 2017 - 18:16 By Catherine Chung

SK Innovation Co., South Korea's top oil refiner, said Wednesday that it has decided to pay out its first-ever interim dividends worth 149 billion won ($133 million) to boost shareholder value.

In a regulatory filing, SK Innovation said it will pay out 1,600 won per one common and preferred share each.

Last year, the refiner paid out 6,400 won per share following 4,800 won per stock each in 2015.


"After reviewing a variety of options for shareholder-friendly management, we decided to pay out the interim dividend," it said.

In the first quarter of the year, SK Innovation reported an operating income of over 1 trillion won. For the second quarter, its bottom line is expected to have been dented by low oil prices.

SK Innovation is set to report its second-quarter earnings on Thursday.

Meanwhile, it will chip in 423 billion won to its Chinese affiliate, SK China, to expand its presence in the neighboring country. (Yonhap)