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AMAK board recommends 36.36% bonus issue, 20% cash dividend for H1 2022
Al Masane Al Kobra Mining Co.’s (AMAK) board of directors recommended a 36.36% capital increase to SAR 900 million from SAR 660 million through distributing one bonus share for each 2.75 held shares, the company said in a bourse statement.
The company will capitalize SAR 240 million from the SAR 508.59 million share premium account.
The board also recommended distributing a 20% cash dividend for the first half of 2022, at SAR 2 per share.
|
Details of Capital Increase |
|
|
Current capital |
SAR 660 mln |
|
Number of shares |
66 mln |
|
Capital hike% |
36.36% (one share for every 2.75 shares held) |
|
Capital after increase |
SAR 900 mln |
|
Number of shares after increase |
90 mln |
|
Method of increase |
Capitalizing SAR 240 mln from the SAR 508.59 million share premium account |
|
Record date |
Shareholders of record by the close of trading on the extraordinary general meeting (EGM) date, which will be set later, and shareholders registered with Edaa by the close of the second trading day following the EGM date |
|
Objective |
Strengthen the company’s financial position to achieve its growth and expansion strategy through seizing available investment opportunities in the mining sector |
|
Dividend Details (H1 2022) |
|
|
Dividend |
SAR 129.08 mln |
|
Percentage of capital |
20% (equivalent to SAR 2 per share) |
|
Record date |
July 26, 2022 (Shareholders registered with Edaa by the close of the second trading day following the record date) |
|
Payment date |
Aug. 9, 2022 |
Fractional shares, if any, will be collected in one portfolio for all shareholders and sold at market price. The sale proceeds will then be distributed among the eligible shareholders, on a pro rata basis, within a period not exceeding 30 days from the date of determining the shares due to each shareholder, according to the company's statement.
The capital increase is subject to the approval of competent authorities as well as the company's EGM.
Dividend History (SAR/share) Corporate Actions
| Announcement | Ex-Dividend | Payment | Dividends (M Riyal) | Dividends * | Notes |
| 19/07/2022 | 26/07/2022 | 09/08/2022 | 129.09 | 1.43 |
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 | N/A | N/A | N/A |
| Last 5 Financial years | N/A | N/A | N/A |
| Last 10 Financial years | N/A | N/A | N/A |
Valuation Data (Latest Share Price)
| P/E (TTM) | 44.48 |
| P/E Before Unusual Items (TTM) | 44.48 |
| P/BV | 5.22 |
| Dividend Yield | 2.35 % |
| Market Cap. (M) | 6,345.00 |
| Return on Average Assets | 9.37 % |
| Return on Average Equity | 11.75 % |
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