Business Context and Reporting Period
This Form 6-K filing by Woori Finance Holdings Co., Ltd. (Woori Financial Group Inc.) covers the month of February 2006. The report details a resolution passed by the Board of Directors of Woori Bank, a wholly-owned subsidiary, regarding dividend payments for the fiscal year ended 2005.
Key Financial Metrics
The filing provides specific data regarding dividends and net income for fiscal years 2005 and 2004. Comprehensive metrics such as revenue, operating cash flow, profit margins, debt levels, and liquidity ratios are not provided in this specific document.
| Item | FY 2005 | FY 2004 |
|---|---|---|
| Dividend per share (KRW) | 932 | 629 |
| Total Dividend Amount (KRW) | 592,711,532,560 | 400,016,688,820 |
| Net Income (KRW) | 1,425,755,353,265 | 1,966,126,159,197 |
| Dividend ratio of par value | 18.64% | 12.58% |
Material Changes Versus Prior Period
- Dividend Increase: The recommended cash dividend per share increased by 48.2% from KRW 629 in FY 2004 to KRW 932 in FY 2005.
- Total Payout Growth: The total dividend amount rose by approximately 48% to KRW 592.7 billion.
- Net Income Decline: Despite the dividend increase, Net Income decreased significantly from KRW 1.97 trillion in FY 2004 to KRW 1.43 trillion in FY 2005.
- Payout Ratio Expansion: The dividend ratio of par value increased from 12.58% to 18.64%.
Outlook, Risks, and Management Commentary
The filing contains no forward-looking guidance, management commentary on future operations, or discussion of specific risks and contingencies. The document is strictly a notification of the Board's resolution to recommend the dividend payment as of February 28, 2006.
Investor Verification Checklist
- Verify the final approval of the dividend by shareholders, as this filing reflects a Board recommendation.
- Confirm the record date and payment date for the KRW 932 per share dividend.
- Review the full FY 2005 annual report to understand the drivers behind the 27.5% decline in Net Income despite the increased dividend payout.
- Check for any subsequent filings regarding the actual disbursement of the KRW 592.7 billion dividend.