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An Cuong Wood to issue 14.9 million shares to pay dividends

The Saigon Times

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HCMC –  An Cuong Wood – Working JSC, which trades its ACG shares on the Hochiminh Stock Exchange, has announced its decision to issue 14.9 million shares to pay dividends for 2022 at a ratio of 11%.

The company’s existing shareholders will get 11 new shares for every 100 shares held, according to its dividend payment plan.

The share issuances are expected to be made in this year’s second and third quarters.

An Cuong Wood – Working JSC has set a revenue target of VND5,000 billion and after-tax profit of VND668 billion in 2023, up 12% and 8% year-on-year, respectively. However, ACG’s profit had reached only 5.4% of the annual plan at the end of the first quarter.

The company earned revenue of VND679 billion and after-tax profit of VND36.3 billion in the first three months of 2023, down 20% in revenue and nearly 70% in profit compared to the same period last year.

Le Duc Nghia, chairman of ACG’s Board of Directors, said at the annual general meeting that the company achieved a preliminary growth rate of 10% in April, showing a good sign of recovery.

ACG closed the trading session today, June 23, up 0.25% from the previous session to VND39,600 per share, but reported a matching volume of 10,200 shares.

Regarding the stock exchange today, the strong gain of blue-chip stocks helped push the VN-Index of the Hochiminh Stock Exchange (HOSE) to nearly 1,130 points.

At the close, the benchmark index gained 4.08 points, or 0.36%, to 1,129.38 points, with 235 advancers and 200 decliners.

Trade volume totaled over 906.6 million shares worth VND18.1 trillion, down over 1.38% in volume and 2.37% in value against the day earlier. Block deals contributed over VND1.49 trillion to the total value.

VNM was the star performer today, increasing by 3.3% to VND69,000 per share. The trading volume of this stock reached a record high with 11.96 million shares traded, nearly three times the average trading volume of this stock in 10 recent trading sessions.

Other notable gainers included BVH, which rose by 2.2% to VND45,100 per share; HPG with an increase of 2.2%; MSN surging by 1.3%, and SAB rising by 1.1%.

Notably, VPB surged by 3.1% and took the lead by liquidity with 42.43 million shares changing hands today.

On the Hanoi bourse, the HNX-Index slid 0.37 points, or 0.16%, from the previous session, at 231.54 points, with 89 advancers and 104 decliners.

The total trading volume reached 122.05 million shares, with a value of over VND2 trillion.

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