Minimum loss of Samsung Securities’ dividend incident to be KRW 48.7 billion
Kim Min Soo | minsu@ | 2018-04-17 09:53:24

Samsung Securities is on the verge of paying half of its net profit for the first quarter of this year due to its dividend policy.

Samsung Securities estimates that the losses to be directly borne by stock dividend and investor compensation will be at least W48.7bn due to dividend accidents.

Han Gyeongpyeong analyzed that Samsung Securities lost about KRW 8.3 billion in transaction losses in the process of buying 2.6 million shares in order to settle dividend accidents. In addition, in the process of borrowing 2.41 million shares from institutional investors, it was estimated that the transaction fee of about KRW 30 million and the transaction loss of about KRW 7.7 billion occurred.

The cost of repaying investors who have sold stocks on the day of the collapse is also unbearable.

Samsung Securities decided to pay damages to investors who sold shares on the same day as the highest price of 30,800 won on the day of the accident.

On the day of the dividend accrual, Han Kyungpyeong estimated that 2,810,000 shares of Samsung Securities were traded on the day of the dividend accrual.

If the average daily selling price is calculated at KRW 30,730, it will reach about KRW 32,700 million. Han Ki-pyeong said that if the damage is added to the stock price drop after the accident, the loss can be increased more.

Lee Yong-hoon, a senior researcher at Han Gyeongpyeong Bank, said, "We have estimated the loss by assuming that the compensation is the same as for individual investors because the compensation for institutional investors is not yet available."

If Samsung Securities` loss is close to KRW 50 billion, Samsung Securities will spend half of net profit in the first quarter. According to financial information company F & G guide, Samsung Securities` net profit for 1Q is expected to reach KRW 108.1 billion. An official of Samsung Securities said, "Although we can not disclose the exact amount of loss since compensation for individual investors has not been completed yet, we do not expect the loss to be as large as our estimate," he said. In the process of normalizing stock sales, it is estimated that trading losses of less than 10 billion won have occurred. "

Meanwhile, Samsung Securities is reviewing compensation for damages as well as disciplinary measures against 16 employees who raised misleading stocks.

By Kim Min Soo minsu@

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