[컨콜] Shinhan Finance “Consult the dividend payout ratio with the authorities…targeting 30% this year”

[서울=뉴스핌] Reporter Lee Jung-yoon = Shinhan Financial Group announced that it plans to find reasonable reasons for’reducing the dividend payout ratio to 20%’ and consult with the supervisory authority.

On the 5th, Shinhan Financial Group CFO Noh Young-woon said in a conference call for the 2020 results, “the financial authorities’ dividend recommendation is not legally binding, but it is unlikely to be against the will.” “If you can convince you that it doesn’t, it’s another matter.”

“We are planning to find more reasonable reasons and discuss with the authorities,” he said. “However, since the authorities also set guidelines through stress tests for each financial institution, if they deviate from the recommendations a lot, it will be difficult to communicate with the authorities in the future. “He added.

On this day, Shinhan Financial Group could not determine its dividend payout ratio in its earnings announcement. CFO Noh Young-woon explained, “We have a setback with what we planned, so we will take the time to consider it.” “Because it is not unreasonable to hear the opinions of the board of directors in early March and decide, we will receive opinions from outside directors.” .

In the second half of the year, it is said that it will pursue an active shareholder return policy through interim dividends and treasury stock purchases.

CFO Noh said, “The quarterly dividend plan that has been pursued since last year has not changed. However, since there is no basis for quarterly dividends in the articles of incorporation, the articles of incorporation must be amended at this year’s shareholders’ meeting.”

He added, “We will prepare for quarterly dividends in the first half and proceed from the second half,” he added. “The goal is to achieve 30% of dividend payout this year, and we will gradually increase it.”

Earlier, the financial authorities recommended that the dividend payout ratio of domestic banks be reduced to within 20% by June this year in response to Corona 19. This is because the banknote’s capital management is necessary in preparation for the prolonged Corona 19.

[사진=신한금융그룹]

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