LG Display Co., Ltd. Form 6-K Summary
Business Context and Reporting Period
This Form 6-K, filed on January 16, 2009, reports on resolutions passed by the Board of Directors of LG Display Co., Ltd. regarding the convening of the 24th Annual General Meeting of Shareholders for the fiscal year ended December 31, 2008. The filing details the proposed cash dividend distribution and corporate governance updates.
Key Financial Metrics
The filing does not provide comprehensive financial statements, revenue, profit, cash flow, or debt figures. The only specific financial metric disclosed is the proposed dividend payout:
- Total Cash Dividend Amount: KRW 178,907,850,000
- Dividend Per Common Share: KRW 500
- Market Dividend Rate: 2.2% (based on the one-week average closing share price prior to the record date)
- Record Date: December 31, 2008
Material Changes and Corporate Actions
The Board of Directors approved the following actions on January 16, 2009, subject to shareholder approval:
- Convening the Annual General Meeting on March 13, 2009, at the LG Display Paju Display Cluster.
- Approval of non-consolidated financial statements for fiscal year 2008.
- Amendment to the Article of Incorporation.
- Setting the remuneration limit for directors for 2009.
- Amendment to the regulation regarding severance payments to directors and executive officers.
Outlook, Risks, and Contingencies
The payment of the proposed cash dividend is contingent upon two factors:
- Approval by shareholders at the Annual General Meeting of Shareholders.
- The final audit results of the independent auditor.
If approved, the dividend is scheduled to be paid within one month following the Annual General Meeting. The filing does not contain specific management commentary on future business outlook or operational risks beyond the standard contingencies related to the dividend approval process.
Investor Verification Checklist
- Verify the final approval of the KRW 500 per share dividend at the March 13, 2009, Annual General Meeting.
- Confirm the final audited financial results for fiscal year 2008 to ensure the dividend amount remains valid.
- Review the specific details of the proposed amendments to the Article of Incorporation and director remuneration limits.
- Monitor the actual payment date to ensure it occurs within one month of the shareholder meeting.