SK Holdings Earns US$10 Million in Dividends from Eureka Midstream | Be Korea-savvy

SK Holdings Earns US$10 Million in Dividends from Eureka Midstream


SEOUL, Dec. 19 (Korea Bizwire) – SK Holdings Co., the holding firm of South Korean energy and telecoms conglomerate SK Group, said Tuesday that it has received US$10 million in dividends from Eureka Midstream, a U.S. midstream energy company.

SK Holdings said the profit is a dividend for the fourth quarter of 2017 and said it expects good quarterly dividends next year.

The profit came just two months after SK Holdings invested $1 billion in the U.S. midstream energy company handling the gathering, transportation, and compression of natural gas.

Eureka Midstream said it is capable of transporting lean or rich natural gas within approximately 200 miles of the heart of the Marcellus and Utica natural gas shales.

SK Holdings’ investment is the latest in a series of investments by the holding firm of SK Group.

Last month, SK Holdings invested a combined US$60 million in two North American fashion brands — Canada-based Mackage and U.S.-based fashion firm Alice+Olivia — in a bid to diversify its revenue sources.

In October, SK Holdings purchased a 10 percent stake in a Chinese meat-processing firm last month.

In July, SK Holdings bought an 11.77 percent stake in Chinese logistics developer ESR for 372 billion won ($343 million). ESR, China’s No. 2 logistics firm, operates 112 logistics centers in China, Japan, Singapore and other nations, and has some 200 customers around the globe, including Alibaba and Amazon.


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