An Cuong Wood (ACG) completed 50% of the year plan and still paid 106 billion in dividends

An Cuong Wood Joint Stock Company (Code ACG) has just announced that it plans to close the list of shareholders to receive the first cash dividend of 2023 on December 4. The dividend will be paid in cash at a rate of 7%, equivalent to each shareholder owning 1 share receiving 700 VND in dividends.

Currently, there are 151 million ACG shares in circulation on the market, so An Cuong Wood will need to spend 106 billion VND to pay dividends. The expected payment date is December 21, 2023. The source of capital for implementation is taken from undistributed profits and capital surplus on the audited consolidated financial statements.

An Cuong Wood (ACG) has only completed nearly half of its 2023 plan (Photo TL)

Regarding business performance, in the third quarter of 2023, An Cuong Wood achieved revenue of VND 962.6 billion, down 18.2% year-on-year. Profit after corporate income tax reached VND 129.9 billion, down 21.8% year-on-year.

ACG's accumulated revenue in the first 9 months of the year reached VND2,611 billion, down 16%, and after-tax profit reached VND275 billion, down 38% over the same period. Compared to the plan set at the beginning of the year, ACG has only completed 52% of the revenue plan and 41% of the annual profit plan.

By the end of the third quarter, ACG's total assets reached VND5,122.3 billion, down more than VND300 billion compared to the beginning of the year. In which, the debt structure tended to narrow, down from VND1,555 billion to only VND985.8 billion. In contrast, equity increased from VND3,912.2 billion to VND4,136.5 billion.

Source: https://www.congluan.vn/go-an-cuong-acg-moi-hoan-thanh-50-ke-hoach-nam-van-chi-106-ty-tra-co-tuc-post273630.html