Seoul: A total of 90 listed firms decided to spend 7.4 trillion won (US$5.2 billion) in cash dividends last month, data showed Thursday, as part of their efforts to boost shareholder returns.

According to Yonhap News Agency, top-cap Samsung Electronics Co. announced cash dividend payouts of 2.5 trillion won in July, followed by leading automaker Hyundai Motor Co. with 700 billion won. The data was provided by the Korea Exchange, highlighting a significant move among corporations to enhance shareholder value.

The report also indicated that more listed firms, particularly financial holding companies, have decided to retire their own stocks. Notable among these are Shinhan Financial Group and KB Financial Group, both of which announced plans last month to buy back about 700 billion won worth of their own shares each and subsequently cancel them, as stated by the bourse operator.

Market observers have noted that large-cap companies are expanding their dividends in response to increasing demand for more payouts. This aligns with government policies that aim to enhance the rights of shareholders, reflecting a broader trend towards prioritizing shareholder interests in corporate strategies.