Seoul, Jun 18 (IANS): LG Electronics said on Tuesday it will pay out 90 billion won ($65.2 million) in dividends to its shareholders for the first half as part of plans to increase shareholder value.

Shareholders will receive 500 won per share on June 30, according to the company in a filing.

This dividend payout is part of LG Electronics' new shareholder return policy, which includes distributing dividends twice a year and increasing the dividend payout ratio to 25 per cent, reports Yonhap news agency.

Last year, LG Electronics paid out a dividend of 800 won per common share and 850 won per preferred share.

For the first quarter of the year, LG Electronics’ operating profit fell more than 10 per cent from a year earlier, due to rising costs and intensifying competition.

Its first-quarter operating profit came to 1.33 trillion won ($984.9 million), down 11 per cent from 1.5 trillion won a year earlier, the company said in a regulatory filing.

Sales increased 3.3 per cent on-year to 21.09 trillion won, marking the highest for any first-quarter results. The company did not provide the data for net income.