March 22, 2019 / 1:14 AM / 7 months ago

Hyundai Mobis shareholders vote against Elliott dividend proposal

SEOUL (Reuters) - Hyundai Mobis shareholders voted on Friday against Elliott Management’s proposal for dividend payouts.

Elliott Management had called for a special dividend and a board shake-up at Hyundai Motor Group, South Korea’s No.2 family-run conglomerate, to address its “poor governance” and “excess cash”.

Reporting by Hyunjoo Jin; Editing by Stephen Coates

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