Aldrees recommends 25% bonus shares, 10% cash dividend for 2020

Aldrees Petroleum and Transport Services Co.’s (Aldrees) board of directors recommended increasing the company’s capital to SAR 750 million from SAR 600 million, through distribution of 25% bonus shares (one bonus share for every four shares owned), the firm said in a bourse statement today, Jan. 19.

The board also recommended a 10% cash dividend, at SAR 1 per share, for fiscal year 2020.

Details of Capital Increase
Current Capital	SAR 600 mln
Number of Shares	60 mln
Percentage Increase	25% (1 bonus share for every 4 shares owned)
Capital after Increase	SAR 750 mln
Number of Shares	75 mln
Reason	To commensurate with the size of the company's business and future expansions
Nature & Value of Reserves Used	The increase in capitalization from retained earnings
Eligibility	Those registered as per the shareholders registry at the deposit center at the end of the second working day after eligibility date

Dividend Details

Current Capital

SAR 600 mln

Number of shares

60 mln

Dividend

SAR 60 mln

Percentage of capital

10% (equivalent to SAR 1 per share)

Record date

Shareholders registered at the Securities Depository Center on the general assembly date, which will be announced later

Payment date

To be announced

The proposed granting of bonus shares is subject to obtaining necessary approvals from official authorities and extraordinary general assembly meeting on the capital increase and number of granted shares, the statement said.

In case of bonus shares fractions, the company will collect it in one portfolio and sell it at market price within 30 days from finishing allocating the new shares to each shareholder.

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Valuation Data (Latest Share Price)

P/E (TTM)	39.44
P/E Before Unusual Items (TTM)	39.90
P/BV	8.99
Dividend Yield	0.56 %
Market Cap. (M)	12,500.00
Return on Average Assets	4.12 %
Return on Average Equity	24.78 %

Aldrees recommends 25% bonus shares, 10% cash dividend for 2020

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