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Samsung C&T to pay higher dividends for 2017-2019 period

All News 16:59 January 08, 2018

SEOUL, Jan. 8 (Yonhap) -- Samsung C&T Corp., the construction-to-trading arm of Samsung Group, said Monday it will pay higher dividends for three years ending in 2019 to enhance shareholders' value.

Samsung C&T plans to give 2,000 won (US$1.90) per share in annual dividends to shareholders during the 2017-2019 period, the company said in a statement.

The dividends for the year 2017 will reach 330 billion won ($309 million), sharply up from 90.8 billion won, or 550 won per share, a year earlier. In the next two years, the same value of dividends as 2017 will be given to shareholders, it said.

To help boost its share prices, the company said it "is considering inviting a foreign outside director with expertise and experience in running a global business."

In the January to September period, Samsung C&T shifted to a net profit of 436.13 billion won from a loss of 237.48 billion won a year earlier, helped by increased local residential complex projects.

It also posted an operating profit of 612.63 billion won, swinging from an operating loss of 71.25 billion won, during the same period. Sales rose 6.7 percent to 21.51 trillion won from 20.16 trillion won.

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