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SAIB shareholders approve 33.3% bonus shares, 7% cash dividend for 2021
The Saudi Investment Bank's (SAIB) shareholders approved, on Feb. 1, the board's recommendation on increasing capital from SAR 7.5 billion to SAR 10 billion through a 33.33% bonus share distribution at one share for every three outstanding shares.
Meanwhile, shareholders gave the nod to the board's recommendation on a 7% cash dividend, at SAR 0.70 a share, for 2021.
|
Details of Capital Increase |
|
|
Current capital |
SAR 7.5 bln |
|
Number of shares |
750 mln |
|
Percentage of increase |
33.33% (one share for every three shares held) |
|
Method of increase |
Bonus share distribution |
|
Capital after increase |
SAR 10 bln |
|
Number of shares after increase |
1 bln |
|
Record date |
Feb. 1, 2022 (Including shareholders registered with the Securities Depository Center Co. (Edaa) at the end of the second trading day following the general meeting date) |
|
Reason for increase |
To strengthen the company’s capital base, which will contribute to increasing the growth rates and expand business activities over the next years |
|
Method of increase |
Capitalization of SAR 2.5 bln from statutory reserve |
|
Dividend Details |
|
|
Number of shares |
750 mln |
|
Dividend |
SAR 525 mln |
|
Percentage of capital |
7% (SAR 0.70 per share after Zakat) |
|
Record date |
Feb. 1, 2022 (Including shareholders registered with Edaa at the end of the second trading day following the general meeting date) |
|
Payment date |
Feb. 10, 2022 |
Shareholders also approved electing the following board members for the next three-year term starting Feb. 14, 2022: Abdullah Al-Zaben, Abdallah Al-Dosari, Abdulrahman Al-Rawaf, Mohammed Al-Khalil, Abdulaziz Al-Khamis, Mohammed Algrenees, Khaled Al Rowais, Yasser AlJarallah and Mohammed Bamaga.
In addition, the agenda items included the formation of the audit committee for the three-year term starting Feb. 14.
Meanwhile, the Saudi Exchange (Tadawul) announced the calculation of SAIB's fluctuation ratio at SAR 17.02 today, Feb. 2, and cancelation of outstanding orders.
Edaa also announced that it will deposit the bonus shares at shareholders' portfolios before the start of trading on Feb. 6.
Dividend History (SAR/share) Corporate Actions
| Announcement | Ex-Dividend | Payment | Dividends (M Riyal) | Dividends * | Notes |
| 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 | |
| 19/12/2013 | 01/04/2014 | 06/04/2014 | 440.00 | 0.35 | |
| 17/12/2012 | 11/03/2013 | 16/03/2013 | 385.00 | 0.31 | |
| 02/01/2012 | 18/03/2012 | 25/03/2012 | 275.00 | 0.22 | |
| 27/11/2005 | 06/03/2006 | 14/03/2006 | 103.14 | 0.08 |
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 | 1.24 | 10.82 | 11.43 % |
| Last 5 Financial years | 1.24 | 9.00 | 13.73 % |
| Last 10 Financial years | 3.00 | 8.66 | 34.68 % |
Valuation Data (Latest Share Price)
| P/E (TTM) | 9.17 |
| P/E Before Unusual Items (TTM) | 9.17 |
| P/BV | 1.13 |
| Dividend Yield | 5.33 % |
| Market Cap. (M) | 17,375.00 |
| Return on Average Assets | 1.35 % |
| Return on Average Equity | 12.99 % |
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