KEB wirthholds Q1 dividend amid doubts on Lone Star's exit

Korea Exchange Bank decided not to pay a dividend for the first quarter amid lingering doubt over U.S. fund Lone Star's controlling stake sale to Hana Financial Group Inc .

A KEB official said a board meeting had approved the decision not to pay a dividend.

Lone Star, which recouped most of its total 2.1 trillion won or $1.93 billion investment in KEB through a block sale and dividends, would receive no dividend as the Korean lender posted a 46 percent drop in net profit for the January-March period.

The full story is available at Reuters.com.