Korea / Special Sits, Pairs, Index Rebalancing, Clepsydra Capital

Sanghyun Park

I investigate special situations, pairs, and index rebalancing trades in Korea.

Korea / Special Sits, Pairs, Index Rebalancing

Pref-Centred Dividend Plays with Expanded ISA Tax Benefits in Value-Up Context

Clepsydra Capital

Investigate special situations, pairs, and index rebalancing trades in Korea.

Event-Driven

<ul>
<li>Hyundai's IR team appears to have communicated that a new shareholder return policy would be unveiled at the rescheduled CEO Investor Day in August.</li>
<li>Hyundai aims to boost shareholder returns above 30% by canceling ₩800B to ₩1T in shares annually. The new dividend strategy won't debut in August; last year's three-year plan stands.</li>
<li>Equal cancellation ratios apply to common and three types of preferred shares. August's timing, with ISA tax reforms potentially favoring preferred shares, may enhance prefs' price impact relative to ords.</li>
</ul>


Hyundai's IR team appears to have communicated that a new shareholder return policy would be unveiled at the rescheduled CEO Investor Day in August.
Hyundai aims to boost shareholder returns above 30% by canceling ₩800B to ₩1T in shares annually. The new dividend strategy won't debut in August; last year's three-year plan stands.
Equal cancellation ratios apply to common and three types of preferred shares. August's timing, with ISA tax reforms potentially favoring preferred shares, may enhance prefs' price impact relative to ords.


Hyundai Motor's Special Shareholder Return Plan Likely Unveiled in August IR Event