January 29th, 2015
Samsung Life held its Board of Directors meeting on January 29th, 2015, through which the Board approved its FY2014 financial statements and declared an annual dividend of KRW 1,800 per share (total KRW 340.3 billion).
The consolidated net income for FY2014 recorded KRW 1,361 billion, which is a 49% increase compared to January-December 2013 net income of KRW 911.4 billion. This was achieved thanks to the growth in insurance profit resulting from improvements in management efficiency and investment returns including disposal gains, despite the continued low interest rate environment.
The annual dividend for FY2014 increased by 112% versus that of FY2013, which was for a 9 month period. If we were to annualize the FY2013 dividend for 12 months, the year-on-year annual dividend increase would be 59%. The dividend payout ratio is 25% when based on consolidated earnings, and 29% when based on non-consolidated earnings, which remains similar to that of FY2013. This translates to a dividend yield of 1.53% .
In 2015, Samsung Life will continue to enhance shareholder value and achieve quality growth through active capital management and stable growth of our insurance profit on the base of resilient growth in our value of new business.
More details on FY2014 earnings results and major business strategies for 2015 will be announced on February 12th, 2015, 4 pm Korea Standard Time.
Thank you very much.
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