South Korea Stocks Climb to Record; Brokerages Pace Gains in `Bull Market'

(Bloomberg) -- South Korean stocks climbed, pushing
the key index to a record. Brokerages jumped, led by Samsung
Securities Co., after Hyundai Securities Co. said investors will
put more money into equities, increasing demand for the companies'
services.

``Interest in local stocks is rising thanks to the market's
good performance,'' said Choi Chang Hoon, who helps manage $860
million at Woori Credit Suisse Asset Management Co. in Seoul.
``Brokerage stocks are likely to stick to their upward track for
the time being.''


Read more at Bloomberg Stocks News

UPDATE 1-Siebert founder to waive part of dividend payout

(Reuters) - NEW YORK, June 4 - Brokerage Siebert Financial
Corp. raised its dividend by 50 percent as its founder
and chairwoman Muriel Siebert waived her right to receive most
of the payout she would have been entitled to based on her
stake.




The move means that Siebert will get $280,000 instead of
the $2.4 million she could have received based on her stake in
the company. The remaining amount of about $2.1 million will be
retained by Siebert as capital for use in its business, the
company said.


Read more at Reuters.com Mergers News