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Petrochem shareholders to vote on 5% dividend for FY19 on April 16
AI Summary
Content Summary: 
National Petrochemical Co.’s (Petrochem) shareholders will vote on April 16 on the board’s recommendation to distribute a 5% cash dividend, or SAR 0.5 per share, for the fiscal year 2019, the firm said in a statement to Tadawul.
|
Dividend Details (FY 2019) |
|
|
Current Capital |
SAR 4.8 bln |
|
Number of shares |
480 mln |
|
Dividend |
SAR 240 mln |
|
Percentage of capital |
5% (SAR 0.50 per share) |
|
Record date |
April 16, 2020 |
|
Payment date |
To be determined |
The general assembly will also vote on the financial results, and the board and auditor’s reports for FY 2019.
Shareholders will vote on hiring an auditor from among nominees, discharging board members from liabilities during FY19, in addition to a board remuneration of SAR 1.6 million for the previous fiscal year.
They will also vote on authorizing the board of directors to distribute interim dividend on a quarterly or biannual basis for the year 2020.
In addition, shareholders will vote on the contracts between Saudi Polymers Company (a subsidiary) and Samba Financial Group, in which Petrochem’s board member, Iyad Al Hussein has an indirect interest, as he is a board member of Samba Financial Group.
Saudi Polymers Company obtained a loan of SAR 1.5 billion on March 8, 2020 (extends for 4 years) without preferential terms.
Dividend History (SAR/share) Corporate Actions
| Announcement | Ex-Dividend | Payment | Dividends (M Riyal) | Dividends * | Notes |
| 05/03/2020 | 16/04/2020 | 28/04/2020 | 240.00 | 0.50 | |
| 26/02/2019 | 07/04/2019 | 16/04/2019 | 240.00 | 0.50 | |
| 08/03/2018 | 16/04/2018 | 29/04/2018 | 240.00 | 0.50 | |
| 13/03/2017 | 17/04/2017 | 27/04/2017 | 240.00 | 0.50 |
Dividend History
| Consolidated cash dividend | Cash dividend per share (SAR) | * The stock price at the beginning of the period (SAR) | Return on the base price |
|---|---|---|---|
| Last 3 Financial years | 1.75 | 18.37 | 9.53 % |
| Last 5 Financial years | 2.75 | 16.52 | 16.65 % |
| Last 10 Financial years | 2.75 | 22.15 | 12.42 % |
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Valuation Data (Latest Share Price)
| P/E (TTM) | 15.96 |
| P/E Before Unusual Items (TTM) | 15.96 |
| P/BV | 2.39 |
| Dividend Yield | - |
| Market Cap. (M) | 21,816.00 |
| Return on Average Assets | 15.26 % |
| Return on Average Equity | 15.85 % |
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