Dividend payouts surge 9-fold for top 10 richest women
The country’s top 10 richest female shareholders in terms of dividend income reported a nearly nine-fold increase in their dividend incomes compared with 10 years ago, data showed, Tuesday.
Leaders Index, a Seoul-based corporate tracker, said the dividend payments to the 10 female stockholders grew from 51.3 billion won in 2013 to 473.1 billion won ($360.9 million) in 2023.
The 10 were all members of conglomerate owner families, including the mother and two sisters of Samsung Electronics Executive Chairman Lee Jae-yong. They are Hong Ra-hee, Lee Boo-jin and Lee Seo-hyun, who are also the country’s three wealthiest female stockholders.
One of the two sisters, Lee Boo-jin, was ranked highest overall on the top 10 list in terms of rate of increase in dividend income.
Also the CEO of Hotel Shilla, she reported a whopping 9,571.7 percent increase in her dividend income that surged from 1.51 billion won in 2013 to 145.99 billion won in 2023. The increase comes as she holds a significant stock portfolio inherited from her late father, Samsung Electronics Chairman Lee Kun-hee. She held a 3.9 percent stake in Samsung SDS 10 years ago, but now she has stakes in multiple companies including Samsung Electronics, Samsung C&T and Samsung Life Insurance.
The younger sister, Lee Seo-hyun, was in second place. Her dividend income grew 6,140.2 percent to 94.19 billion won over the same time period after recording the same amount as her sister at 1.51 billion won in 2013.
Their mother, Hong, came in fourth trailing behind Koo Yeonkyung, a sister of LG Group Chairman Koo Kwang-mo.
Hong’s dividend income increased 845.3 percent to 146.4 billion won over the 2013-23 period, outpaced by Koo’s that increased 1,031 percent to 13.76 billion won.
Despite the increase in dividend income, the family members of the late Samsung chairman have been borrowing money and selling stocks to pay inheritance taxes totaling 12 trillion won. They have been paying the taxes in installments over a fiveyear period.
Chung Yoo-kyung, the president of retail giant Shinsegae Group, reported a 598.9 percent increase in her dividend income that totaled 9.47 billion won and put her in fifth place on the list.
Ranked sixth was DG Group Vice Chairwoman Kim Joo-won. Her dividend income rose 310.4 percent to 11.82 billion won.
Chung Sung-yi, a sister of Hyundai Motor Group Executive Chair Chung Euisun, made a 244.1 percent gain in her dividend income that amounted to 9.91 billion won.
Kim Yeong-sik, the mother of LG Group Chairman Koo Kwang-mo, was in eighth place, with her divided income increasing 167.2 percent to 19.84 billion won.
Chey Ki-won, a sister of SK Group Chairman Chey Tae-won, reported a 56.1 percent increase as her divided income was worth 12.29 billion in 2023.
Shinsegae Group Chairwoman Lee Myung-hee rounded out the list at 10th place. Her dividend amount ticked up 3.5 percent to 9.51 billion won.