POSCO declared 2,000 won a share for the second quarter, 151.2bn won in total, with a record date of 24 August and payment on 7 September — within a month of the 7 August board resolution, as Article 165-12 of the Capital Markets Act requires.

The note beneath the numbers matters more than the numbers. POSCO says the quarterly amount is set by reference to that quarter's results and business plan, in order to smooth dividend volatility, and that the group runs an annual shareholder return ratio of 35% to 40% against adjusted net income attributable to controlling interests. That is the reverse of how a US industrial works: the payout ratio is the commitment and the per-share rate is the variable. Annualising 2,000 won gives a 2.44% gross yield, but the filing is explicitly telling you not to.

Four quarters at this level would be about 605bn won, roughly 26% of annualised first-half attributable profit — below the stated band. Either the later quarters pay more, or the "adjusted" profit base is materially lower than the reported one. For a US holder of the ADR, each ADR receives a quarter of the per-share amount, and Korean withholding at the 15% treaty rate applies.