ID :
191245
Mon, 06/27/2011 - 06:17
Auther :
Shortlink :
https://oananews.org//node/191245
The shortlink copeid
Hyundai Motors receives 415 bln won dividend from Chinese venture
South Korea's top automaker Hyundai Motor Co. said Monday that it has received 415 billion won (US$385 million) in cash dividends from its Chinese venture company.
Hyundai Motors said Beijing Hyundai Motor Company, a 50-50 venture with Beijing Automotive Industry Holding Co., recently decided to pay out a total of 5 billion yuan in dividends, or 2.5 billion yuan each to its two investors.
This year's total dividend is an increase of 67 percent from the 3 billion yuan worth of dividends offered by Beijing Hyundai in 2010. Of the total, 1.5 billion yuan was received by Hyundai.
"The dividend has been received, but Hyundai has yet to decide how to spend the money," a company source said.
Beijing Hyundai was established in 2002 with Hyundai investing $724 million in the automaker that has its main assembly line in the Shunyi district, a satellite city near the Chinese capital.
Hyundai Motors said Beijing Hyundai Motor Company, a 50-50 venture with Beijing Automotive Industry Holding Co., recently decided to pay out a total of 5 billion yuan in dividends, or 2.5 billion yuan each to its two investors.
This year's total dividend is an increase of 67 percent from the 3 billion yuan worth of dividends offered by Beijing Hyundai in 2010. Of the total, 1.5 billion yuan was received by Hyundai.
"The dividend has been received, but Hyundai has yet to decide how to spend the money," a company source said.
Beijing Hyundai was established in 2002 with Hyundai investing $724 million in the automaker that has its main assembly line in the Shunyi district, a satellite city near the Chinese capital.
