Samsung Group Shares Jump on Speculation Over Dividend Increases
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Shares of companies that are part of the Samsung Group climbed amid speculation the family-controlled conglomerate may raise dividends at some units following the death of Chairman Lee Kun-hee, to help his heirs raise funds to pay the inheritance tax.
Samsung C&T Corp. was up 13% at close in Seoul, the biggest gain since 2015, after surging as much as 21%. Jay. Y Lee, the first son, holds a large stake in the de facto holding company of South Korea’s largest conglomerate. Samsung Life Insurance Co. and Samsung SDS Co. rallied 3.8% and 5.5%, respectively.