GGG 2020 Financial statements have been released - 40% increase in sales!

What I'd like to know is how the hell they're getting to give out dividends despite declaring barely any profit? Dividend is supposed to come from profits, not revenue. If you don't declare much profit, you shouldn't be allowed to send out dividends. Those shenanigans seem really dodgy. Of course they can label the dividend as something else, but that just makes it more dodgy.

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Exile009 wrote:

What I'd like to know is how the hell they're getting to give out dividends despite declaring barely any profit?

Because Path of Exile is not about socialism but TURBO-CAPITALISM.

At least this is how their customers explained it to me.

tencent need to sell the shares of GGG

When Chris approached me over 10 years ago to potentially invest in GGG, I declined.

But it's ok... I have a headhunter now.

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killingmasheen wrote:

When Chris approached me over 10 years ago to potentially invest in GGG, I declined.

But it's ok... I have a headhunter now.

Wish my beta money went to stock shares :)

Chris is smart and made a great game

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Exile009 wrote:

What I'd like to know is how the hell they're getting to give out dividends despite declaring barely any profit? Dividend is supposed to come from profits, not revenue. If you don't declare much profit, you shouldn't be allowed to send out dividends. Those shenanigans seem really dodgy. Of course they can label the dividend as something else, but that just makes it more dodgy.

Uh, did you look at the report?

They returned c. $52m profit on $113m revenue in FY2020. That seems pretty significant.

Dividends are paid out of retained earnings (which includes current year profit). There may be a corporations law requiring the company to return a profit (which they did) to make dividend payment to shareholders; but its paid out of retained earnings. If the company generates a profit and doesn't pay out dividends, this account accumulates. They generated a $35m profit last year and didn't pay any dividends. This account would have closed at c. $153m if they didn't pay the dividend.

Even if you don't know anything about finance or accounting, you could just look at the report and google like two terms figure that out.

Are even private companies required to make financial statements public in New Zealand?

I don't know where they're getting $113 mil in revenue... but getting $1000 from 100,000 people isn't happening.

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grimlock9999 wrote:

Are even private companies required to make financial statements public in New Zealand?

Even if not, I'd want people to know when I was doing well.

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Shagsbeard wrote:

I don't know where they're getting $113 mil in revenue... but getting $1000 from 100,000 people isn't happening.

what?