LG Electronics to pay $65.2 million in dividends to shareholders

Seoul, June 18 (IANS) LG Electronics said on Tuesday it will pay out 90 billion won ($65.2 million) in dividends to its shareholders for the first half as part of plans to increase shareholder value.Shareholders will receive 500 won per share on June 30, according to the company in a filing.This dividend payout is part of LG Electronics' new shareholder return policy, which includes distributing dividends twice a year and increasing the dividend payout ratio to 25 per cent, reports Yonhap news agency.Last year, LG Electronics paid out a dividend of 800 won per common share and 850 won per preferred share.For the first quarter of the year, LG Electronics’ operating profit fell more than 10 per cent from a year earlier, due to rising costs and intensifying competition.Its first-quarter operating profit came to 1.33 trillion won ($984.9 million), down 11 per cent from 1.5 trillion won a year earlier, the company said in a regulatory filing.Sales increased 3.3 per cent on-year to 21.09 trillion won, marking the highest for any first-quarter results. The company did not provide the data for net income.--IANSna/

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