An Cuong Wood (ACG) Declares 10% Cash Dividend, VND 151B Payout Due September 30

Overview

An Cuong Wood Joint Stock Company (HOSE: ACG) has announced a second cash dividend for 2025 at a ratio of 10%, equivalent to VND 1,000 per share, with total disbursement of approximately VND 151 billion. The record date is September 17, 2026, and payment is scheduled for September 30, 2026. The announcement matters for ACG shareholders because it completes the company’s 2025 cash dividend plan and confirms continued cash generation despite a slower profit growth rate in the first half of 2026.

Key Facts

• Second 2025 cash dividend ratio: 10%, or VND 1,000 per share.
• Total payout: approximately VND 151 billion, based on nearly 151 million shares outstanding.
• Record date: September 17, 2026; payment date: September 30, 2026.
• First 2025 dividend tranche: 13% (about VND 196 billion), paid in Q4 2025.
• Full-year 2025 cash dividend: 23%, matching the 2026 annual general meeting plan.
• H1 2026 revenue: over VND 2,349 billion, up 33% year on year; net profit: nearly VND 242 billion, up 8%.
• Major shareholders: NC Vietnam Investment Co., Ltd. holds 50% (over 75.46 million shares); Whitlam Holding Pte holds 18% (over 27 million shares).
• ACG closed at VND 31,800 per share on September 10, 2026.

What Happened

An Cuong Wood Joint Stock Company, a leading Vietnamese furniture wood supplier, issued a notice that September 17, 2026 will be the final registration date for its second 2025 cash dividend. The company will pay VND 1,000 per share, a 10% ratio, with settlement expected on September 30, 2026. With nearly 151 million shares in circulation, the total outlay is estimated at about VND 151 billion, according to the company’s announcement.

The shareholder structure means the payout is concentrated among two major holders. NC Vietnam Investment Co., Ltd., the parent company, owns more than 75.46 million ACG shares, equal to 50% of capital as of June 30, 2026, and is set to receive roughly VND 76 billion. Whitlam Holding Pte owns more than 27 million shares, or 18% of capital, and would receive about VND 27 billion. The company had already advanced a 13% first dividend tranche for 2025 in Q4 2025, worth approximately VND 196 billion. Combined, the two payments bring the 2025 cash dividend total to 23%, in line with the plan set at the 2026 annual general meeting.

Market Context

ACG trades on the HOSE exchange and closed at VND 31,800 per share on September 10, 2026. The stock operates in the consumer discretionary sector, specifically wood products and interior furnishings, a segment sensitive to construction demand, export conditions, and input material costs. The 10% dividend implies a yield of roughly 3.1% against the September 10 close, while the full-year 2025 payout of 23% represents a yield of about 7.2% on the same price. The broader Vietnamese market has seen listed companies maintain or increase cash returns as a way to support valuations amid uneven earnings momentum.

Strategic Significance

For long-term investors, the key signal is the company’s ability to fund a combined VND 347 billion in 2025 cash dividends while still investing in operations. H1 2026 revenue growth of 33% outpaced net profit growth of 8%, indicating margin pressure or higher operating costs even as sales volumes expand. The dividend policy, therefore, reflects a balance between returning capital to shareholders and retaining funds for working capital in a business that requires inventory and receivables financing. The concentration of ownership, with the parent at 50% and Whitlam at 18%, means dividend decisions are effectively controlled by a small group, which reduces the risk of abrupt policy changes but also limits minority influence over capital allocation.

What to Watch

• Q3 2026 earnings release, expected in October 2026, to see whether revenue growth continues to outpace profit growth.
• Progress toward the 2026 targets of VND 5,300 billion revenue and VND 604 billion net profit; H1 completion stands at about 44% and 40%, respectively.
• Any further dividend announcements for 2026, including the timing and ratio of a first tranche.
• Changes in the shareholder structure, particularly any movement in the 50% parent stake or the 18% Whitlam holding.
• Input cost trends for industrial wood and export demand conditions, which affect ACG’s margin trajectory.