[Edaily Reporter PARK MIN ] On the 24th, SKSecurities stated regarding SAMSUNG C&T CORPORATION, “Following SamsungElectronics’ announcement of an increased dividend, we expect SAMSUNG C&T CORPORATION’s dividend per share (DPS) for this year to rise to 8,550 won, a 205% increase year-over-year,” raising its target price from 450,000 won to 550,000 won while maintaining its “Buy” rating. This represents an upside potential of 39.1% compared to the closing price of 395,500 won on the 21st.

Choi Kwan-soon, an analyst at SKSecurities, stated in a report published that day, “If SamsungElectronics pays out 30 trillion won in dividends in the third quarter, SAMSUNG C&T CORPORATION’s dividend income for this year is expected to reach 1.7 trillion won,” and “Including this, dividend income from affiliated companies is projected to reach 2 trillion won. Assuming a 70% payout ratio, this year’s DPS would be 8,550 won, resulting in a dividend yield of approximately 2.2% based on the current stock price,” he explained.

Previously, on the 21st, SamsungElectronics disclosed its “Projected Scale and Implementation Plan for Shareholder Returns in 2026.” SamsungElectronics’ remaining funds for shareholder returns in 2026 are estimated to be approximately 90 trillion to 110 trillion won. This figure represents 50% of the total free cash flow (FCF) over three years, minus the 29.3 trillion won already distributed in 2024–2025.

SamsungElectronics also announced plans for a cash dividend of around 30 trillion won in the third quarter of this year. Considering that SamsungElectronics’ combined dividends for the first and second quarters totaled 4.9 trillion won, the third-quarter dividend represents a significant increase. Analyst Choi Kwan-soon stated, “The increased dividend in the third quarter is a factor driving up SAMSUNG C&T CORPORATION’s dividend per share (DPS) this year.”

SamsungElectronics’ shareholder structure is another factor supporting expectations of increased dividend income for SAMSUNG C&T CORPORATION(028260). Among SamsungElectronics’ shareholders, Samsung Life Insurance holds an 8.51% stake, SAMSUNG C&T CORPORATION(028260)holds 5.11%, and SamsungFire&MarineInsurance holds 1.49%. SAMSUNG C&T CORPORATION(028260)also holds a 19.34% stake in Samsung Life Insurance.

Consequently, the possibility of additional shareholder returns from Samsung Life Insurance is also cited as a factor driving dividend income growth. Currently, Samsung Life Insurance has set a target of a 50% medium- to long-term shareholder return ratio but has not made any specific mention of special dividends.

SAMSUNG C&T CORPORATION’s core business is also expected to continue growing. SKSecurities forecasts SAMSUNG C&T CORPORATION’s revenue for this year at 45.692 trillion won and operating profit at 3.819 trillion won. Compared to last year, this represents a 12.1% increase in revenue and a 16.0% increase in operating profit. For 2027, revenue is projected to reach 48.633 trillion won and operating profit 4.457 trillion won, representing increases of 6.4% and 16.7%, respectively.

By business segment, the construction division’s projected revenue for this year is estimated at 15.846 trillion won, with earnings before interest, taxes, depreciation, and amortization (EBITDA) relative to net debt at 1.072 trillion won. The trading division is projected to generate revenue of 16.878 trillion won and EBITDA of 602 billion won, while the fashion division is expected to generate revenue of 2.298 trillion won and EBITDA of 254 billion won. The Food & Beverage division is expected to post revenue of 3.446 trillion won and EBITDA of 213 billion won.