Business Context and Reporting Period
This Form 6-K filing by Woori Financial Group Inc. (a Korean foreign private issuer) was submitted on February 9, 2022. The report details resolutions passed by the Board of Directors on the same date regarding cash dividend recommendations for the fiscal year ended December 31, 2021.
Key Financial Metrics
The filing focuses exclusively on dividend distributions and does not provide comprehensive financial statements such as revenue, profit, cash flow, margins, debt, or liquidity metrics.
| Entity | Dividend Per Share (KRW) | Total Dividend Amount (KRW) | Market Dividend Rate |
|---|---|---|---|
| Woori Financial Group Inc. | 750 | 546,043,668,750 | 5.6% |
| Woori Bank (Wholly-owned Subsidiary) | 1,642 | 1,175,672,000,000 | N/A |
Note: The total dividend for Woori Financial Group for FY2021 is KRW 654,383,820,900 (KRW 900 per share), which includes a previously paid interim dividend of KRW 150 per share. The entire dividend amount from Woori Bank is payable to Woori Financial Group.
Material Changes
The filing does not provide comparative financial data against prior periods to assess material changes in operational performance. The primary update is the recommendation of the final dividend for FY2021.
Guidance, Outlook, and Contingencies
- Disbursement Timeline: Dividends are expected to be disbursed within one month following approval at the respective annual general meetings of shareholders, in accordance with the Korean Commercial Code.
- Contingencies: The decision to disburse the dividends is subject to the results of the external audit and final approval at the annual general meetings of shareholders.
- Market Dividend Rate Calculation: The 5.6% rate for Woori Financial Group is calculated based on the arithmetic mean of closing prices for the one week ending two trading days before the shareholder register closing date, excluding the interim dividend.
Investor Verification Checklist
- Confirm the final approval of the dividend resolution at the Annual General Meeting of Shareholders.
- Verify the results of the external audit for FY2021, as the dividend disbursement is contingent upon this outcome.
- Monitor the official announcement of the dividend disbursement date following the shareholder meeting.
- Review the full FY2021 annual report (Form 20-F) for comprehensive revenue, profit, and liquidity data not included in this 6-K filing.