SAIB board proposes 1-for-4 bonus issue, 4.5% dividend

18/02/2024 Argaam Exclusive

The Saudi Investment Bank’s (SAIB) board of directors recommended on Feb. 15 the distribution of one bonus share for every four shares held to raise capital by capitalizing part of its statutory reserve.

 

In two separate statements to Tadawul, SAIB said that the board also proposed a 4.5% cash dividend, at SAR 0.45 per share, for the second half of 2023.

 

Capital Increase Highlights

Current Capital

SAR 10 bln

Number of shares

1 bln

Capital increase (%)

25%

New Capital

SAR 12.5 bln

New Number of Shares

1.25 bln

Nature & Value of Reserve

Capitalizing SAR 2.5 bln of retained earnings

Eligibility

Shareholders registered with Edaa on the second trading day following the extraordinary general meeting (EGM), the date for which will be determined later

Reason

Strengthening the bank’s financial solvency and utilizing its resources for operating activities

 

Dividend Details (H2 2023) 

Current Capital 

SAR 10 bln 

Number of Dividend-Eligible Shares 

1 bln 

Total Dividend 

SAR 450 mln 

Percentage of Capital 

4.5% (SAR 0.45 per share after Zakat) 

Record Date 

Feb. 25, 2024 (Shareholders registered with Edaa by the close of the second trading session following the record date)

Payment Date 

March 6, 2024

 

Total Dividends (2023)

Total dividends

SAR 850 mln

Percentage of capital

8.5% (SAR 0.85 a share after Zakat deduction)
 

Fractional shares, if any, will be collected in one portfolio for all shareholders and sold at market price. Their value will be distributed among the eligible shareholders, on a pro rata basis, within 30 days maximum from the date of determining the new shares eligible for each shareholder.

 

The bonus share distribution is subject to the approval of the competent authorities as well as the bank’s shareholders.

 

The bank added that it obtained the Saudi Central Bank's (SAMA) approval on H2 2023 dividends.

Dividend History (SAR/share) Corporate Actions

Announcement Ex-Dividend Payment Dividends
(M Riyal)		 Dividends * Notes
18/02/2024 25/02/2024 06/03/2024 450.00 0.36
30/07/2023 03/08/2023 15/08/2023 400.00 0.32
25/12/2022 10/04/2023 30/04/2023 450.00 0.36
24/07/2022 31/07/2022 14/08/2022 300.00 0.24
22/12/2021 01/02/2022 10/02/2022 525.00 0.42
04/03/2021 21/04/2021 02/05/2021 270.00 0.22
14/02/2018 24/04/2018 01/05/2018 450.00 0.36
06/12/2016 17/04/2017 20/04/2017 350.00 0.28
13/12/2015 04/04/2016 07/04/2016 487.50 0.39
04/12/2014 08/03/2015 10/03/2015 480.00 0.38
Historical dividend per share adjusted for the effect of capital changes and bonus shares, if any

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 1.70 9.57 17.77 %
Last 5 Financial years 1.92 10.29 18.62 %
Last 10 Financial years 3.33 13.89 23.98 %
Based on the beginning of the period (January 1 of the base year)

Historical Dividends


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