SEOUL-- South Korean state-run Korea Development Bank (KDB) said Thursday it decided to pay out a record amount of dividends on the back of sound earnings.

The KDB said it will pay 833.1 billion won (US$687.4 million) to its shareholders for 2021, far larger than the 209.6 billion won in dividend payout for 2020.

The payout jump came as the KDB's consolidated annual net profit hit a record high of 2.5 trillion won in 2021. The bank attributed the strong performance to the increased asset value and dividend income.

Source: Yonhap News Agency