Notice of 20th Annual General Meeting: Cash Dividend of 68 Won Per Share and 5-Year Lease Renewal for SK Seorin Building – Stable Dividend and Rental Income Secured
SK REIT will hold its 20th Annual General Meeting on June 18, 2026, proposing a cash dividend of 68 won per common share (total approx. 20.47 billion won). The dividend slightly increased from the prior year (66 won), but the payout ratio rose due to a decline in net income (consolidated 19.38 billion won).
A special resolution will approve a 5-year lease renewal (July 6, 2026 – July 5, 2031) for SK Seorin Building with major shareholder SK Co., Ltd. (29.09% stake). Monthly rent is approx. 4.4 billion won (excl. VAT) with CPI-linked escalation (min. 1.5%), enhancing long-term revenue stability.
For Q1 2026 (Jan-Mar), consolidated revenue was 63.37 billion won, operating profit 53.85 billion won, and net profit attributable to parent 19.38 billion won. Revenue decreased quarter-over-quarter due to seasonal and one-off factors. Debt-to-equity ratio stands at 167%, with cash and equivalents of 73.38 billion won, indicating healthy liquidity.
SK REIT's portfolio includes SK Seorin Building, SK U-Tower, SK-C Tower, SK-P Tower, Jongno Tower, 104 gas stations nationwide, and SK Hynix Water Treatment Center. All properties are 100% leased to SK affiliates, ensuring stable rental income.
The agenda includes approval of supervisory director remuneration limit of 18 million won (2 persons), unchanged from the prior year. There are no other independent director activities or compensation items.
[AI Summary]The 20th AGM agenda centers on a 68 won dividend and a 5-year lease renewal for SK Seorin Building, which together secure stable dividend profitability and long-term rental stability. However, declining net income and a high debt ratio (167%) pose investment risks, making the stock outlook dependent on the balance between dividend appeal and financial health.
KOSPI Filing Information
Filing: Notice of Convocation of Shareholders' Meeting