NH Investment & Securities held its regular general meeting of shareholders on the 24th, confirming dividends of 950 won per common share and 1,000 won per preferred share. Additionally, the new appointments of directors and audit committee members were all approved.
According to the Financial Supervisory Service's electronic disclosure, NH Investment & Securities held its 58th regular general meeting on this day at Park One in Yeouido, Seoul. At the meeting, a total of five agenda items were voted on and approved: ▲ approval of the previous year's financial statements and confirmation of cash dividends ▲ partial amendment of the articles of incorporation ▲ appointment of one outside director and one non-executive director ▲ appointment of two outside directors as audit committee members ▲ approval of director compensation limits.
The dividends were set at 950 won per common share and 1,000 won per preferred share. The total size of the dividend amounts to 329.3 billion won, with a dividend yield of 6.4% for common shares and 7.7% for preferred shares. NH Investment & Securities announced its corporate value enhancement plan last December, stating that it would pursue the industry's highest shareholder returns by conducting a basic dividend of 500 won alongside additional dividends based on business performance.
At the general meeting, Mun Yeon-woo, vice president of NongHyup Insurance, was reappointed as a non-executive director, and Seo Jeong-won, a professor at Sungkyunkwan University, was also reappointed as an outside director on the audit committee.
The newly appointed outside director is Oh Gwang-soo, senior attorney at the law firm Daeryuk Aju. Attorney Oh has served as the chief prosecutor of Daegu District Prosecutors' Office and director of the Ministry of Justice's Crime Prevention Policy Bureau, and is currently serving as an outside director for NICE Holdings and Pan Ocean. Seo Eun-sook, a professor in the Department of Economics and Finance at Sangmyung University, was also newly appointed as an outside director on the audit committee. He has held positions as a member of the Korea Investment Corporation's Operating Committee, chairman of the Financial Consumer Protection Subcommittee of the Financial Commission's Financial Development Advisory Committee, and currently serves as a member of the Financial Supervisory Service's Financial Supervisory Advisory Committee Consumer Protection Subcommittee and as vice president of the Korean Society for Financial Management.
The limit on director compensation has been reduced from 10 billion won to 8 billion won. The total compensation received by 11 directors, including Chairman Yun Byeong-woon of NH Investment & Securities, was recorded at 6.919 billion won last year. Chairman Yun received a total of 1.726 billion won in salary and bonuses in his first year of office, while former chairman Jeong Young-chae received 5.903 billion won, including retirement pay.
Meanwhile, Chairman Yun, who was officially appointed as CEO at the regular general meeting last March, has a two-year term, which will expire next March.