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More KOSDAQ companies to give stock dividends this year

All News 09:06 January 08, 2018

SEOUL, Jan. 8 (Yonhap) -- More firms listed on the secondary KOSDAQ market are expected to pay stock dividends this year, a local market association said Monday.

Thirty-four companies said in their early disclosures that they will be giving stock dividends, more than the previous high of 27 in 2016, according to the KOSDAQ Listed Companies Association. The total for this year is the highest since early disclosures began being checked eight years ago.

Unlike cash dividends, stock dividends must be announced early in the new business year. The deadline for the early disclosure was Dec. 21. The dividends will be paid after March after approval from shareholders.

"We have been tallying early disclosures for the past eight years, and the 27 companies in 2016 had been the highest so far. This year, 13 companies are alternating between cash and dividend dividends," an association official said.

Dong Il Technology, SeouLin Bioscience, Sungwoo Techron Co. and LOT Vacuum will be paying stock dividends for the eighth consecutive year, according to the association.

Stock dividends are more common among KOSDAQ firms than by companies listed on the main KOSPI market.

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