1. All appeals filed by the plaintiffs are dismissed.

2. The costs of appeal are assessed against the Plaintiffs.

The purport of the claim and appeal is the purport of the appeal.

1. The reasoning of the court of first instance’s explanation concerning the instant case is as follows, except for the addition of “2. Additional Determination” to “2. Additional Determination”, and thus, this is acceptable in accordance with the main sentence of Article 420 of the Civil Procedure Act.

2. Additional determination

A. As to the Defendant’s argument regarding Article 7-2(3)3 of the Defendant’s articles of incorporation, the Plaintiffs asserted that, under Article 7-2(3)3 of the Defendant’s articles of incorporation, “if the Defendant fails to pay dividends for a certain business year, the accumulated unpaid portion shall be distributed preferentially at the time of the distribution of dividends in the following business year.” Thus, the Plaintiffs asserted that the accumulated unpaid portion of dividends per share is accumulated every year in accordance with the above articles of incorporation.”

The following facts and circumstances, which are acknowledged by comprehensively taking account of the intent of each of the statements and arguments in subparagraph 1 through 3 of the evidence Nos. 1, and the whole purport of the arguments, are provided, namely, ① the contents as alleged by the plaintiffs under Article 7-2 (3) 3 of the defendant’s articles of incorporation, but this merely appears to be the purport of re-verification of the basic contents of the preferred shares, which are cumulative preferred shares, and ② the shareholders can claim for the payment of dividends to the company in accordance with the contents of the resolution only when the shareholders’ general meeting or the board of directors passes a resolution on the distribution of dividends, and even when the shareholders did not have a resolution on the general meeting of shareholders or the board of directors at the general meeting of shareholders, it cannot be interpreted that there is a conclusive and specific claim for dividends based on the number of days in each fiscal term each year, and ③ Article 42 (3) of the defendant’s articles of incorporation provides that “The profit dividend shall be paid to shareholders or pledgees registered at the end of each fiscal