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Eastern Cement shareholders to vote on 15% dividend for FY2019 on April 14
Eastern Province Cement Co.’s (EPCCO) shareholders are set to vote on the board recommendation to distribute a 15% cash dividend, or SAR 1.5 per share, for the fiscal year of 2019, during the extraordinary general meeting to be held on April 14.
Shareholders will be able to participate and vote on agenda items through Tadawulaty services offered by the Securities Depository Center Co. (Edaa).
The move is in line with the Capital Market Authority’s (CMA) decision to suspend personal attendance at general meetings to contain the spread of coronavirus.
|
Dividend Details (FY 2019) |
|
|
Current Capital |
SAR 860 mln |
|
Number of shares |
86 mln |
|
Dividend |
SAR 129 mln |
|
Percentage of capital |
15% (SAR 1.5 per share) |
|
Record date |
April 14, 2020 |
|
Payment date |
April 27, 2020 |
The general assembly will also vote on the financial results, the board and auditor’s reports for FY 2019, as well as vote on discharging board members from liabilities for the fiscal year 2019, the statement added.
They will also vote on appointing and auditor, and a SAR 1.6 million remuneration for the board of directors for FY 2019.
Moreover, the assembly will vote on the businesses and contracts worth SAR 63 million as of Dec. 31, 2019, conducted between Eastern cement and an associated company, Arabian Yemen Cement Co., in addition to other contracts worth SAR 22 million as of Dec. 31, 2018.
Eastern cement noted that these contracts will be executed until the difficulties facing the associated company are ended.
Dividend History (SAR/share) Corporate Actions
| Announcement | Ex-Dividend | Payment | Dividends (M Riyal) | Dividends * | Notes |
| 18/03/2020 | 14/04/2020 | 27/04/2020 | 129.00 | 1.50 | |
| 19/03/2019 | 30/04/2019 | 15/05/2019 | 64.50 | 0.75 | |
| 21/03/2018 | 08/05/2018 | 24/05/2018 | 86.00 | 1.00 | |
| 14/02/2017 | 10/04/2017 | 27/04/2017 | 129.00 | 1.50 | |
| 23/02/2016 | 29/03/2016 | 17/04/2016 | 215.00 | 2.50 | |
| 15/02/2015 | 31/03/2015 | 14/04/2015 | 215.00 | 2.50 | |
| 13/02/2014 | 19/03/2014 | 02/04/2014 | 301.00 | 3.50 | |
| 17/02/2013 | 17/03/2013 | 27/03/2013 | 344.00 | 4.00 | |
| 12/02/2012 | 18/03/2012 | 28/03/2012 | 301.00 | 3.50 | |
| 14/02/2011 | 27/03/2011 | 06/04/2011 | 301.00 | 3.50 |
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 | 3.25 | 34.64 | 9.38 % |
| Last 5 Financial years | 7.25 | 55.88 | 12.97 % |
| Last 10 Financial years | 24.25 | 49.80 | 48.69 % |
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Valuation Data (Latest Share Price)
| P/E (TTM) | 13.31 |
| P/E Before Unusual Items (TTM) | 11.60 |
| P/BV | 1.20 |
| Dividend Yield | 4.20 % |
| Market Cap. (M) | 2,919.70 |
| Return on Average Assets | 7.70 % |
| Return on Average Equity | 9.18 % |
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