Samsung sees $1.4 billion dividend payment from Corning deal

SEOUL Fri Oct 25, 2013 3:05am EDT

A man talks on his mobile phone near advertisements promoting the Samsung Electronics' Galaxy Note 3 at the company's headquarters in Seoul October 21, 2013. REUTERS/Kim Hong-Ji

A man talks on his mobile phone near advertisements promoting the Samsung Electronics' Galaxy Note 3 at the company's headquarters in Seoul October 21, 2013.

Credit: Reuters/Kim Hong-Ji

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SEOUL (Reuters) - Samsung Electronics Co said on Friday it expected an additional 1.5 trillion won ($1.4 billion) payment from Corning Inc after the U.S. firm agreed to buy the South Korean firm's display unit out of an LCD glass venture.

"On top of the already announced detail that Corning will buy out (Samsung Display's) stake in the glass venture, there'll be additional payment of dividend, which we estimate at around 1.5 trillion won," Robert Yi, head of Samsung Electronics investor relations, told analysts. ($1 = 1061.0500 Korean won)

(Reporting by Miyoung Kim; Editing by Richard Pullin)

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