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Hyundai’s $10 Billion Cash Deal Damps Dividend Hopes

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Hyundai Motor Co. and two affiliates said they will use cash to fund their 10.6 trillion won ($10 billion) purchase of a land site in Seoul, damping optimism that the companies will raise shareholder payouts.

Hyundai Motor, Hyundai Mobis Co. and Kia Motors Corp. won’t issue debt to fund the acquisition, Seoul-based Hyundai Motor said in an e-mail on behalf of the group. The automaker will build its new global headquarters at the site, located in the city’s central Gangnam district.