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Arabian Cement shareholders to vote on 12.5% dividend for H2 2020 on April 11
Shareholders of Arabian Cement Co. are set to vote on a board recommendation to distribute a 12.5% cash dividend, at SAR 1.25 per share, amounting to SAR 125 million for H2 2020, during the ordinary general assembly meeting (OGM) that will be held on April 11, 2021.
|
Dividend Details for H2 2020 |
|
|
Current Capital |
SAR 1 bln |
|
Number of shares |
100 mln |
|
Dividend |
SAR 125 mln |
|
Percentage of capital |
12.5% (SAR 1.25 per share) |
|
Record date |
April 11, 2021 (Shareholders registered with the Securities Depository Centre (Edaa) at the end of second trading day following the general assembly meeting, date of which will be announced later). |
|
Payment date |
To be determined later |
Shareholders will also discuss financial results, as well as the board and auditor reports for 2020.
They will also appoint an auditor, discharge board members from liability, in addition to approving board remuneration of SAR 2 million for the same year.
The OGM will vote on authorizing the board of directors to distribute interim cash dividends on semi-annual or quarterly basis for 2021.
Shareholders will also ratify the contracts and transactions concluded between the company and the Ready-Mix Concrete and Construction Supplies Co. (RMCC) in Jordan, in which two board members, Saud Abdulaziz Abdullah Al-Suleiman and Mutaz Kusai Hassan Al-Azzawi (non-executive directors), have an indirect interests since they hold the post of RMCC board.
The transaction is a cement procurement process and construction supplies done by RMCC through its subsidiary, Qatrana Cement Co. The transaction, which was conducted in 2020, is valued at SAR 52.4 million, considering no preferential terms are applicable.
Shareholders will vote on the assembly items as of April 7, 2021, through Tadawul services.
Dividend History (SAR/share) Corporate Actions
| Announcement | Ex-Dividend | Payment | Dividends (M Riyal) | Dividends * | Notes |
| 01/03/2021 | 11/04/2021 | 02/05/2021 | 125.00 | 1.25 | |
| 26/07/2020 | 10/08/2020 | 26/08/2020 | 100.00 | 1.00 | |
| 02/03/2020 | 19/04/2020 | 07/05/2020 | 100.00 | 1.00 | |
| 04/08/2019 | 05/08/2019 | 29/08/2019 | 75.00 | 0.75 | |
| 03/03/2019 | 07/04/2019 | 25/04/2019 | 100.00 | 1.00 | |
| 19/02/2018 | 08/04/2018 | 26/04/2018 | 100.00 | 1.00 | |
| 25/09/2017 | 03/12/2017 | 19/12/2017 | 200.00 | 2.00 | |
| 09/08/2017 | 10/08/2017 | 27/08/2017 | 100.00 | 1.00 | |
| 20/02/2017 | 18/04/2017 | 04/05/2017 | 200.00 | 2.00 | |
| 18/07/2016 | 21/07/2016 | 25/08/2016 | 200.00 | 2.00 |
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 | 5.00 | 34.30 | 14.58 % |
| Last 5 Financial years | 13.00 | 47.51 | 27.36 % |
| Last 10 Financial years | 29.70 | 27.36 | 108.55 % |
Valuation Data (Latest Share Price)
| P/E (TTM) | 16.09 |
| P/E Before Unusual Items (TTM) | 18.05 |
| P/BV | 1.03 |
| Dividend Yield | 4.35 % |
| Market Cap. (M) | 2,600.00 |
| Return on Average Assets | 5.22 % |
| Return on Average Equity | 6.37 % |
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