Hyundai Motor is considering raising its dividend sharply and introducing an interim dividend, President Lee Won-hee said on Thursday, in an apparent bid to appease investors angered by its recent $10-billion deal to buy a Seoul property.
Lee, who is also the chief financial officer, was speaking after the automaker reported its third quarter earnings. He did not elaborate.
Last month, a consortium led by Hyundai Motor bid $10 billion for a plot of land in Seoul’s high-end Gangnam district to house its headquarters, more than triple the appraisal value of the property. Its shares have been falling since then.
The South Korean automaker declared a 1,950 won ($1.85) per share year-end dividend for 2013, or a total handout of 534.4 billion Korean won.