Duc Giang Chemicals prepares to spend 1,140 billion VND to pay dividends

After the announcement of interim dividend payment of Phosphorus Apatite Vietnam, Duc Giang Chemicals also scheduled an interim payment of 30%. The group of shareholders related to Chairman Dao Huu Huyen estimated to receive hundreds of billions of VND from the above two installments.

Duc Giang Chemicals prepares to spend 1,140 billion VND to pay dividends

After the announcement of interim dividend payment of Phosphorus Apatite Vietnam, Duc Giang Chemicals also scheduled an interim payment of 30%. The group of shareholders related to Chairman Dao Huu Huyen estimated to receive hundreds of billions of VND from the above two installments.

Duc Giang Chemical Group Joint Stock Company (code DGC, HoSE) announced that November 20, 2024 will be the last registration date to pay interim cash dividends for 2024 at a rate of 30%/par value, equivalent to each share receiving 3,000 VND in dividends. The corresponding ex-dividend date is November 19, 2024. Dividends will be paid to shareholders on December 20, 2024.

The provisional dividend payment (prepayment of dividends before the general meeting of shareholders approves the profit distribution plan) is a practice of Duc Giang Chemicals, usually carried out at the end of the year. However, in the past 5 years, the company has listed shareholders to receive provisional payments around December and paid them at the beginning of the year. Scheduled much earlier, the provisional dividend for 2024 will be paid in December 2024.

With nearly 380 million shares in circulation, Duc Giang Chemicals is expected to spend nearly VND1,140 billion for this dividend payment. Currently, the company's largest shareholder is Chairman of the Board of Directors Dao Huu Huyen with nearly 70 million shares held, equivalent to 18.38%, Mr. Huyen will receive more than VND209 billion. In addition, individuals related to Mr. Huyen including Mr. Dao Huu Duy Anh (son), Ms. Ngo Thi Ngoc Lan (sister-in-law), Mr. Dao Huu Kha (brother), Ms. Nguyen Thi Hong Lan (wife) and Ms. Dao Hong Hanh (daughter) all hold large amounts of DGC shares. In total, Mr. Huyen and related individuals hold more than 143.4 million DGC shares and will receive more than VND430 billion in dividends.

Recently, Vietnam Apatite Phosphorus Joint Stock Company (code PAT, UPCoM) also announced that November 20, 2024 will be the last registration date to make an interim cash dividend payment for 2024 at a rate of 70%. The ex-rights trading date will be November 19, 2024. Accordingly, shareholders owning each share will receive VND 7,000. With 25 million outstanding shares, it is estimated that Vietnam Apatite Phosphorus will spend VND 175 billion in this interim payment. Dividends will be paid to shareholders on December 20, 2024.

Duc Giang - Lao Cai Chemical Joint Stock Company, the largest shareholder with more than 12.75 million PAT shares, equivalent to 51% of charter capital, will receive more than VND89.2 billion in dividends. This is also a subsidiary 100% owned by Duc Giang Chemical. Dividends from Vietnam Apatite Phosphorus will soon be transferred to Duc Giang Chemical's account at the same time the company pays dividends to shareholders. The group of shareholders related to Chairman Dao Huu Huyen received dividends of more than VND29 billion from Vietnam Apatite Phosphorus, of which Mr. Huyen received VND13.5 billion and Mr. Duy Anh received VND15.8 billion in dividends. In total, dividends from Vietnam Apatite Phosphorus that Chairman Dao Huu Huyen and related parties received were more than VND118.5 billion.

Thus, the group of shareholders related to Chairman Dao Huu Huyen will receive hundreds of billions of VND in cash from just the two dividend payments above.

In the third quarter of 2024, Duc Giang Chemicals' revenue in the third quarter of 2024 increased by 4% compared to the same period in 2023, reaching VND 2,558 billion. The company's gross profit was VND 881 billion, up 5% over the same period last year. Gross profit margin was at 34.4%. Financial revenue decreased by 26% to more than VND 150 billion due to a decrease in deposit interest. Duc Giang Chemicals' net profit was VND 706 billion in the third quarter of 2024, down more than 7% over the same period last year.

In the first 9 months of the year, Duc Giang Chemicals' revenue increased slightly to VND7,447 billion. Of which, revenue from foreign markets accounted for VND3,820 billion and the rest came from the domestic market with VND3,627 billion. Profit after tax decreased by 7% compared to the same period, to VND2,322 billion and completed 74% of the yearly plan.

As of September 30, Duc Giang Chemicals' total assets reached VND 16,196 billion, an increase of VND 500 billion compared to the beginning of the year. Of which, the total amount of cash, cash equivalents and deposits amounted to VND 11,366 billion, accounting for 70% of assets. This figure increased by VND 1,379 billion compared to the end of the second quarter of 2024 and increased by VND 1,776 billion compared to the beginning of the year. Undistributed profit after tax reached nearly VND 7,600 billion.

On the stock market, DGC's stock price closed on November 30 at VND111,400/share, an increase of 18.2% compared to the end of last year.

Source: https://baodautu.vn/hoa-chat-duc-giang-chuan-bi-chi-1140-ty-dong-tra-co-tuc-d228785.html