April 25, 2024

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[THE INVESTOR] More firms listed on the secondary KOSDAQ market are expected to pay stock dividends this year, a local market association said on Jan. 8.

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.

By Alex Lee and newswires (alexlee@heraldcorp.com)