AsemconnectVietnam - The Board of Directors of Hung Yen Garment Corporation (HUG - UPCoM) has just approved the 2023 advance dividend in cash at a rate of 15%, equivalent to 1 share will receive VND1,500.

According to the announcement, the Company will advance dividends. The last registration date to exercise the right to receive advance dividends is December 28, payment time starts from March 26, 2024.
Currently, Hung Yen Garment has a charter capital of more than VND195 billion, of which Vietnam Textile and Garment Group is the largest shareholder owning more than 35% of the capital, equivalent to more than 6.83 million HUG shares. Thus, Vietnam Textile and Garment Group will receive VND10.25 billion from HUG's dividends in this division.
At the same time, the Company's Board of Directors also agreed to pay 20% cash dividend in 2023. Thus, after the above dividend advance, Hung Yen Garment is expected to have an additional 5% cash dividend payment in 2023.
In the last 5 years, Hung Yen Garment has maintained a dividend of over 20% in cash, of which the highest dividend is the 2019 dividend at a rate of 60% and most recently the 2022 dividend was paid in early June 2023 with a rate of 30%.
Recently, Hung Yen Garment had a financial report for the third quarter of 2023 with revenue in the period reaching more than VND175.7 billion, pre-tax profit reaching VND26.9 billion, both down more than 20% compared to the same period last year.
Accumulated in the first 9 months of the year, the Company recorded revenue of VND552.14 billion, down 14.5% over the same period; pre-tax profit reached VND62.76 billion, down more than 24% over the same period last year; Profit after tax reached VND53.75 billion, down 23.32%.
Thus, with the 2023 plan to achieve pre-tax profit of VND70 billion, at the end of 9 months Hung Yen Garment has completed 89.66% of the target.
By the end of September 2023, the Company's total assets were more than VND600 billion, down more than VND51 billion, equivalent to a decrease of 7.86% compared to the beginning of the year. HUG's undistributed after-tax profit up to this point is more than VND77.84 billion, in addition the Company has VND3.84 billion in development investment fund.
N.Nga
Source: VITIC/Tinnhanhchungkhoan