Budget Saudi shareholders approve 12.5% dividend for H2 2020

United International Transportation Co.’s (Budget Saudi) shareholders approved a 12.5% cash dividend for the second half of 2020, at SAR 1.25 per share, during the general assembly meeting held on April 29, 2021, the company said in a bourse statement.

Dividend Details (H2 2020)
Current Capital	SAR 711.67 mln
Number of shares	71.17 mln
Dividend	SAR 88.96 mln
Percentage of capital	12.50% (SAR 1.25 per share)
Record date	April 29, 2021 (By the end of second trading day following this date)
Payment date	To be determined later
Total Dividend for 2020
Total Dividend	SAR 124.54 mln
Percentage of capital	17.50% (SAR 1.75 a share)

Shareholders also approved delegating the company’s board of directors to distribute cash dividend for 2021 on a semi-annual or a quarterly basis.

Meanwhile, they elected board members for the upcoming three-year term starting on June 21, 2021.

The new board includes, Abdullah Jarallah Ibrahim, Mohammed Abdulaziz Fahad Alghannam, Abdulrahman Hassan Yaseen Bakheet, Miqad Abdullah Abdulmohsen Alkhamis, Yousef Abdullah Abdulaziz Al Rajhi, Khalid Al Dabal, Ahmed Abdullatif Ahmed Albarra and Bassim Abdullah Abdulrahman Alim.

Shareholders also elected members of the audit committee for the same term but refused the participation of the board member, Alaa Eldin R. Sami, in a competitive business.

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Valuation Data (Latest Share Price)

P/E (TTM)	20.89
P/E Before Unusual Items (TTM)	20.89
P/BV	2.25
Dividend Yield	1.73 %
Market Cap. (M)	5,823.67
Return on Average Assets	7.24 %
Return on Average Equity	12.72 %

Budget Saudi shareholders approve 12.5% dividend for H2 2020

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