Business Context and Reporting Period
This Form 6-K filing by Woori Finance Holdings Co., Ltd. (Woori Financial Group Inc.) was submitted on March 12, 2004. The document announces the Board of Directors' resolution to hold the Annual General Meeting of Shareholders for Fiscal Year 2003 on March 30, 2004, and recommends a cash dividend payment for the fiscal year ended December 31, 2003.
Key Financial Metrics
The filing focuses on dividend distribution rather than comprehensive financial performance metrics such as revenue, profit, or cash flow. Specific data provided includes:
- Dividend per Share: KRW 100 for FY 2003 (compared to KRW 250 for FY 2002).
- Total Dividend Amount: KRW 77,550,491,000 for FY 2003 (compared to KRW 57,261,977,450 for FY 2002).
- Outstanding Common Stock: 775,504,910 shares as of the record date (compared to 767,814,797 in FY 2002).
- Dividend Ratio: 1.54% for FY 2003 (compared to 5.22% for FY 2002).
The filing text does not provide clear values for revenue, net income, operating margins, debt levels, or liquidity ratios.
Material Changes Versus Prior Period
The most significant material change is the reduction in the dividend per share from KRW 250 in FY 2002 to KRW 100 in FY 2003, representing a 60% decrease. Consequently, the dividend ratio dropped from 5.22% to 1.54%. Despite the lower per-share payout, the total dividend amount increased by approximately KRW 20.3 billion due to an increase in the number of outstanding common shares.
Guidance, Outlook, and Risks
The filing does not contain forward-looking guidance, management commentary on future operations, or specific risk factors. The agenda for the upcoming Annual General Meeting includes the approval of non-consolidated financial statements for FY 2003, a partial amendment to the Articles of Incorporation, and the appointment of directors and audit committee members. The dividend recommendation is subject to adjustment based on the Annual General Meeting and external auditor evaluation.
Investor Verification Checklist
- Verify the final dividend amount and per-share payout after the Annual General Meeting on March 30, 2004.
- Review the non-consolidated financial statements for FY 2003 to understand the drivers behind the reduced dividend ratio.
- Confirm the details of the partial amendment to the Articles of Incorporation.
- Check for any subsequent filings regarding the appointment of new directors and audit committee members.