[Infostock Daily= Reporter Park Sang-In] Hyundai Mobis announced on November 11 that it will not implement the interim dividend this year in the uncertainty caused by Corona 19 this year.

Hyundai Mobis announced its shareholder return policy last year and paid an interim dividend of 1,000 won and a dividend of 3,000 won for the first time. We tried to make an interim dividend this year, but we decided this considering that the global automobile market is stagnating in the aftermath of Corona 19."

In the first quarter of this year, Hyundai Mobis operating profit and net profit fell 26.9% and 28.2% YoY to W360.9bn and W348.8bn.

Some of the plans for buying treasury stocks announced last year have also been revised.

Hyundai Mobis plans to purchase one-third of the total 1 trillion won purchased for three years (2019-2021) this year, but it also changed to review it in the second half of the year.

In addition, Hyundai Mobis has set aside KRW 4 trillion in investment to secure competitiveness and KRW 3 to 4 trillion in future growth and M & A for three years. Last year, the first year, it said it spent 1.3 trillion won (33.2%) on investments to secure competitiveness and 500 billion won (13.4%) on future growth and M&A.

Reporter Park Sang-In si2020@infostock.co.kr

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