SK Telecom has set up a structure to allow tax-exempt dividends starting with this year's year-end dividends (settlement of account dividends).
Park Jong-seok, SKT Chief Financial Officer (CFO), said on the 7th during a first-quarter earnings conference call that "at the shareholders meeting on Mar. 3, we converted 1.7 trillion won in capital surplus into retained earnings," noting that, under relevant law, tax-exempt dividends will be possible starting at this year-end.
The first-quarter dividend was set at 830 won per share, in line with previous years. CFO Park said the annual dividends size will be determined by the board when results become more concrete. He also explained that this quarter's operating profit has broken out of the post-hacking downtrend and returned close to the pre-incident level, and that the goal is to restore full-year results to at or above the pre-incident level.