|Korean Air Lines Co. said Monday it will pay out dividends for the first time in four years. Courtesy of Korean Air|
Korean Air Lines Co., South Korea’s national flag carrier, said Monday it will pay out dividends for the first time in four years after reaping a record profit last year on the back of robust cargo flights.
Korean Air held a board meeting earlier and decided to deliver 750 won (US$0.58) per common share and 800 won per preferred share in dividends.
The payout will cost the company about 277.1 billion won.
Korean Air last handed out dividends in 2018 when it paid 250 won per common share.
The company didn’t pay its shareholders dividends in 2019, citing poor earnings, and also skipped paying due to the COVID-19 pandemic in 2020 and 2021.
In 2022, Korean Air saw its operating profit double from the previous year to 2.8 trillion won thanks to a rebound in cargo flights. (Yonhap)