Samsung Securities said it will expand dividends to as much as 50% of net profit over the mid to long term.
Samsung Securities on the 20th reported and disclosed to the board of directors a plan to enhance corporate value with these details. Samsung Securities' net profit on a consolidation basis last year was 1.0072 trillion won. This year's payout ratio is 35.5%.
Samsung Securities also decided to secure growth engines by entering new businesses, expand customer and asset acquisition, and strengthen core sales foundations. To that end, it will expand its customer base by providing differentiated services and products and strengthen its digital competitiveness using artificial intelligence (AI). In addition, it will diversify revenue sources by entering new businesses such as digital assets and identifying business opportunities in global markets.
At the shareholders meeting held that day, Samsung Securities passed all agenda items, including approval of financial statements, amendments to the articles of incorporation, appointment of an outside director as an audit committee member, and approval of the cap on directors' compensation. Lee Chan-woo, head of the Digital & Pensions division, was newly appointed to succeed Park Kyung-hee, head of the WM (wealth management) division, who resigned as an inside director.