Saudi Aramco’s board plans 1:10 bonus issue; Q4 2021 dividend of SAR 0.35/share

Saudi Arabian Oil Co.’s (Saudi Aramco) board of directors recommended, on March 18, increasing the company’s capital from SAR 60 billion to SAR 75 billion by capitalizing SAR 15 billion from retained earnings by granting one share for every 10 shares, according to a bourse filing today, March 20.

Shareholders by the end of trading on the day of the extraordinary general assembly meeting (EGM), the date for which will be announced later, are eligible, along with those registered with the Securities Depository Center (Edaa) at the end of the second trading day following the EGM.

In case of bonus shares fractions, Saudi Aramco collect all fractions in one portfolio for all shareholders to be sold at market price. The amount will be distributed proportionately among the eligible shareholders, within a period not exceeding 30 days from the date of determining the due shares for each shareholder.

The proposed grant is subject to obtaining necessary approvals from relevant authorities and the EGM, on the capital increase and number of shares granted.

The company also announced distributing SAR 70.33 billion ($18.76 billion) cash dividend to shareholders for the fourth quarter of 2021.

*No nominal value for Saudi Aramco shares

** 199.91 billion shares are due for distribution