In its just lately launched doc for the 2022 Annual Normal Assembly of Shareholders, Duc Giang Chemical Group JSC (DGC) mentioned that regardless of the complexity of the COVID-19 pandemic in 2021, the corporate’s enterprise outcomes nonetheless improved.
Final yr, its consolidated income reached VND9.55 trillion (US$418 million), up 53 per cent year-on-year. This led to a rise of 165 per cent in consolidated revenue after tax to over VND2.5 trillion, which exceeded 128 per cent of the entire yr plan set by the Normal Assembly of Shareholders.
Duc Giang Chemical’s government board mentioned that the constructive enterprise outcomes have been due to its technique in conserving operation at full capability and slicing enter prices. As well as, the world market has witnessed adjustments in favour of the corporate’s merchandise.
It would suggest to the Normal Assembly of Shareholders to pay 2021’s dividends on the fee of 127 per cent, together with 10 per cent in money dividend, which was paid upfront, and inventory dividend on the fee of 117 per cent. Duc Giang Chemical will difficulty an extra 200.16 million shares to pay dividends.
In 2022, the corporate plans to extend whole income by 26 per cent in comparison with 2021 to greater than VND12.1 trillion, with revenue earlier than tax of VND3.5 trillion, up 39 per cent. It plans to pay a dividend of 30 per cent in 2022.
Duc Giang Chemical is specializing in the Duc Giang – Nghi Son venture that’s anticipated to start out within the third quarter of this yr. It performed a unprecedented Normal Assembly of Shareholders in December 2021 to extend the overall funding to VND10 trillion.
Whereas its condo venture is ready for a brand new coverage, this yr the corporate continues to implement stable waste remedy and joint ventures to use new mines.
It additionally submitted a proposal to approve the plan to difficulty 8.55 million worker inventory possession plans (ESOPs), accounting for five per cent of the excellent shares on the worth of VND10,000 a share.
The worth is far decrease than the market worth of DGC shares on March 7 which was VND189,900 per share.
These shares might be supplied to its workers and its subsidiaries and might be topic to a three-year switch restriction. The discharge date can be this yr.