Notice regarding Revision to Full Year Consolidated Financial Forecasts, Dividend Forecasts and
Interim Dividends from Surplus for Fiscal Year Ending December 31, 2021
In the light of recent business performance, AGC Inc. ("the Company") has revised its full year consolidated financial forecasts and dividend forecasts for the fiscal year ending December 31, 2021, which were announced on April 12, 2021. In addition, the Company resolved the distribution of interim dividends from surplus at the Board of Directors meeting held on August 2, 2021.
1. Revision to the consolidated financial results forecast
Revision to the FY2021 consolidated financial results forecast
[January 1 through December 31, 2021]
(Unit: Millions of yen; %)
Profit for the
Profit for the
Profit before tax
per share (Yen)
owners of the
Previous forecast announced
on April 12, 2021 (A)
Revised forecast (B)
Change (B - A)
Change (%) (B - A)/A
Actual results for FY2020
(2) Reasons for the Revision of Consolidated Earnings Forecasts
The AGC Group's net sales, operating profit, profit before tax, profit for the period and profit for the period attributable to owners of the parent for the full year ending December 31, 2021 are expected to exceed the forecast which was announced on April 12, 2021.This exceed is due to factors such as the sales prices of polyvinyl chloride (PVC) in Southeast Asia are expected to be higher than the initial forecast in the Chemicals segment, and the Company expects to record a gain of approximately 25.0 billion yen from the transfer of its architectural glass business in North America, which was announced on June 15, 2012.
2. Revision to the dividend forecasts
(1) Revision to dividend forecasts for the FY2021
Dividend per share (yen)
(Announced on April 12, 2021)
Actual payment for FY2021
Actual payment for FY2020
(2) Reason for revision of dividend forecasts
With regards to the return of profit to shareholders, the Company will maintain stable dividends with a target consolidated dividend payout ratio of 40% while comprehensively considering such factors as consolidated business performance in the fiscal year under review and future demand for funds.
As stated in "1. Revision to the consolidated financial results forecast", there was an upward revision to the consolidated forecasts for the fiscal year ending December 2021, the Company has decided to upwardly revise the interim ordinary dividend and year-end ordinary dividend forecasts to 80 yen per share. As for the year-end dividend forecast, the Company has decided to add a special dividend of 50 yen per share as a return for the temporary earnings from the transfer of the architectural glass business in North America, bringing the total dividend to 130 yen per share. As a result, the annual dividend forecast is 210 yen per share, with a consolidated dividend payout ratio of 39.8%.
The year-end dividend will be formally determined by a resolution of the general meeting of shareholders to be held in March 2022.
3. Interim dividends from surplus
At the Board of Directors meeting held on August 2, 2021, the Company decided to distribute interim dividends from surplus with a record date of June 30, 2021 as follows.
AGC - Asahi Glass Co. Ltd. published this content on 02 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 August 2021 06:01:06 UTC.