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Hyundai rejects Elliott's dividend plan, lays out major investment program

Feb 28, 2019 - SNL Financial
Financial Results

Hyundai Motor Group on Feb. 27 revealed further measures it will take as part of its restructuring plan, resisting renewed pressure from Elliott Management Corp. to shake up the conglomerate and pay out 7 trillion South Korean won in 2018 dividends.

Activist investor Elliott has urged for a governance overhaul and greatly increased shareholder returns at Hyundai. Specifically, it has proposed dividends of 4.5 trillion won from South Korea's Hyundai Motor Co. and 2.5 trillion won from parts...