Zahrat Al Waha board recommends 50% capital hike via bonus issue, approves 15% cash dividend for 2021

The board of directors of Zahrat Al Waha for Trading Co. approved, in a meeting held today, Nov. 15, to increase the company's capital by 50%, through 1-for-2 bonus share distribution, as well as a cash dividend at 15% of capital (SAR 1.5 per share) for 2021, according to a bourse filing.

Details of Bonus Issue
Current capital	SAR 150 mln
Number of shares	15 mln
Capital hike %	50% (one share for every two shares held)
Capital after increase	SAR 225 mln
Number of shares after increase	22.5 mln
Objective of capital hike	To enhance the company's financial solvency and strengthen its capital to match the size of its business and its future aspirations.
Method of increase	Through capitalizing SAR 75 million from retained earnings

Dividend Details (2021)
Current capital	SAR 150 mln
Number of shares	15 mln
Dividend	SAR 22.5 mln
Percentage of capital	15% (equivalent to SAR 1.5 per share)
Record date	Shareholders registered at the Securities Depository Center (Edaa) at the end of the second trading day following the day of the extraordinary general assembly meeting.
Payment date	To be announced later

The capital increase and the bonus share distribution are subject to the approval of the competent authorities as well as the company's extraordinary general meeting (EGM).

In the case of any bonus shares having fractions, these will be collected into one investment portfolio and will then be sold at market price within 30 days from the date of determining the allocation of new shares to each shareholder, the company added.

Kindly, you can view the full report by subscribing to the and the report contains details, historical information, and charts

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Valuation Data (Latest Share Price)

P/E (TTM)	32.72
P/E Before Unusual Items (TTM)	31.24
P/BV	2.60
Dividend Yield	3.65 %
Market Cap. (M)	758.25
Return on Average Assets	4.11 %
Return on Average Equity	7.84 %

Zahrat Al Waha board recommends 50% capital hike via bonus issue, approves 15% cash dividend for 2021

Comments {{getCommentCount()}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}}

Most Read

Valuation Data (Latest Share Price)

Popular Links

Quick Links

About Us

Join Us

Follow Us