About: http://data.cimple.eu/news-article/580f275cbccc988455371c663af79e488e128c9c19a6f1f9fef44557

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About: http://data.cimple.eu/news-article/580f275cbccc988455371c663af79e488e128c9c19a6f1f9fef44557 Goto Sponge Distinct Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

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rdf:type	schema:NewsArticle
schema:articleBody	Samsung Electronics on Thursday announced plans for a huge one-off dividend payment for shareholders with its controlling family facing a multi-billion-dollar inheritance tax bill. Chairman Lee Kun-hee, the richest man in South Korea, left his children a monumental fortune when he died in October, along with a tax tab reported to be more than $10 billion. The group's flagship subsidiary Samsung Electronics said it would give a "one-time special cash dividend" to shareholders on top of the regular payment -- and more than four times higher -- as part of its full-year results. It also announced a new increased three-year shareholder return programme. Analysts say the plan will help the Samsung heirs -- including Samsung Electronics vice-chairman and de facto leader Lee Jae-yong -- pay the gargantuan tax bill. Under South Korean law, Lee Kun-hee's estate is taxed at 50 percent -- plus a 20 percent surcharge on stocks he held as the largest shareholder in a firm. Reports have estimated that around 11.4 trillion won ($10.2 billion) in inheritance taxes will be due on the late patriarch's stock assets alone. "Samsung C&T is one of the biggest shareholders of Samsung Electronics and Lee Jae-yong is the biggest shareholder of Samsung C&T," said Kim Dae-jong, a business professor at Sejong University. "Around 2,000 won per share is an astonishing amount and it will greatly ease the burden of inheritance tax," he added. Samsung reported a 26 percent jump in fourth quarter net profit from a year earlier, but warned of ongoing uncertainties over the pandemic, and lower profits in the first quarter of 2021 owing to falling prices. Lee Jae-yong is currently in prison after he was sentenced to two and a half years last week in a retrial over a sprawling corruption scandal, a ruling that analysts say could complicate the decision-making process for the world's biggest maker of smartphones and memory chips. sh/slb/dan
schema:headline	Samsung boosts dividends as family faces giant tax bill
schema:mentions	Lee Jae-yong (actor) Samsung Electronics Dividend Inheritance tax De facto Samsung South Korea Pandemic Sejong the Great Lee Kun-hee Random-access memory Kim Wexler
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2021-01-28 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	positive sentiment
http://data.cimple...readability_score	82 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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