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[Alpha Biz=(Chicago) Reporter Kim Jisun] It has been confirmed that KEPCO has finally requested an interim dividend of KRW 3.2 trillion to seven subsidiaries, including Korea Hydro & Nuclear Power Co.
According to officials in the power industry on the 22nd, KEPCO recently sent an official letter to its subsidiaries demanding an interim dividend of 3.2 trillion won.
KEPCO earlier sought to receive up to 4 trillion won in interim dividends from its subsidiaries, but when its subsidiaries were reluctant, it reportedly lowered its interim dividend target to 3.5 trillion won, which was lowered once again. Last year, six subsidiaries, including KHNP, paid a total of 90.4 billion won in dividends to KEPCO.
KEPCO is capable of issuing bonds up to five times its "capital + reserves," and as the market predicted, if there is an annual operating loss of KRW 6 trillion this year, the limit for issuing bonds next year will be reduced to KRW 74.5 trillion, less than the current balance of KRW 80.1 trillion.
Since they can't make up for the deficit by raising electricity bills, they seem to be asking for help from their subsidiaries.
Each subsidiary plans to hold a board meeting soon to finalize the size of the interim dividend.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
