[THE INVESTOR] Rhee Jang-han, chairman of South Korea’s Chong Kun Dang
, topped the ranking of dividend income earners among the country’s pharmaceutical heads in 2016, data showed on March 6.
Rhee’s dividend payouts, from Chong Kun Dang Holdings and its affiliates including Chong Kun Dang Pharmaceutical and Kyongbo Pharm, stood at 3.4 billion won (US$2.93 million), according to the data compiled by market tracker FnGuide.
|Chong Kun Dang Chairman Rhee Jang-han|
Rhee is one of eight top executives of listed pharma firms who earn over 1 billion won each in dividend income.
He holds a 30.88 percent stake in Chong Kun Dang Holdings and 9.5 percent and 8.87 percent in Chong Kun Dang and Kyongbo Pharm, respectively.
Bukwang Pharmaceutical Chairman Kim Dong-yeon ranked second with a total of 3.29 billion won as the firm has decided to pay cash dividend of 500 won per share. He owns a 17.52 percent stake in the company.
Trailing Kim is Green Cross Holdings Chairman Heo Il-sup who will receive dividend payments worth 1.8 billion won from the company and its subsidiary Green Cross.
Meanwhile, there have been mounting calls for South Korean listed firms to raise their dividend yields to improve shareholder value.
South Korea’s average dividend yield rate, or the ratio of dividends per share to the current share price, is expected to mark 1.88 percent, according to a recent report by Daeshin Securities, lagging far behind that of those listed on emerging markets.
The figure is 4.9 percent in Taiwan, 3.53 percent in Turkey and 3.36 percent in Brazil.
By Park Han-na (firstname.lastname@example.org)