Business Context and Reporting Period
This Form 6-K filing by Woori Financial Group Inc. (Woori Bank) covers the month of March 2016. The document reports a corporate action taken by the Board of Directors on March 4, 2016, regarding the recommendation of a cash dividend for the fiscal year ended December 31, 2015.
Key Financial Metrics
The filing focuses on dividend distribution rather than comprehensive financial performance metrics such as revenue, profit, or cash flow. Specific values provided include:
- Dividend per common share: KRW 250 (representing 2.7% of the market price).
- Total dividend amount: KRW 168,317,806,500.
- Shares subject to dividend: 673,271,226 shares.
- Combined 2015 Dividend: Including the interim dividend, the total is KRW 500 per share (5.5% of market price), amounting to KRW 336,635,613,000.
The filing text does not provide clear values for revenue, net profit, operating margins, debt levels, or liquidity ratios.
Material Changes
The primary material event is the Board's resolution to recommend a final cash dividend of KRW 250 per share. This decision brings the total proposed dividend payout for 2015 to KRW 500 per share. No other material changes to operations or financial standing are detailed in this specific filing.
Guidance, Outlook, and Contingencies
Contingencies: The disbursement of the recommended dividend is subject to two conditions:
- Results of the annual audit.
- Confirmation at the annual general meeting of shareholders.
Investor Verification Checklist
- Confirm the final approval of the KRW 250 per share dividend at the annual general meeting of shareholders.
- Verify the final audit results to ensure no adjustments affect the distributable earnings.
- Monitor the official announcement of the dividend disbursement date, expected within one month of shareholder approval.
- Review the full 2015 annual report (Form 20-F) for comprehensive financial statements, as this 6-K only details the dividend resolution.