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SNB board recommends capital hike to SAR 60 bln via bonus shares; 6% cash dividend for H2 2022
Saudi National Bank’s (SNB) board of directors recommended today, Jan. 12, increasing the bank’s capital by 33.99% to SAR 60 billion through 1-for-3 bonus share issue.
The board also recommended distributing 6% cash dividend, at SAR 0.6 per share, for the second half of 2022.
|
Capital Increase Details |
|
|
Current capital |
SAR 44.78 bln |
|
Number of shares |
4.478 bln |
|
Percentage of increase |
33.99% (approximately 1 share for every 3 shares held) |
|
Capital after increase |
SAR 60 bln |
|
Shares after increase |
6 bln |
|
Reason |
To strengthen the bank's financial position in order to achieve its strategic objectives |
|
Method |
Through capitalizing SAR 15.22 bln from retained earnings |
|
Eligibility |
Shareholders by the end of trading on the day of the extraordinary general assembly meeting (which will be announced later) and those registered with Edaa by the end of the second trading day following the EGM |
|
Dividend Details (H2 2022) |
|
|
Current capital |
SAR 44.78 bln |
|
Dividend |
SAR 2.686 bln |
|
Percentage of capital |
6% (SAR 0.6 per share) |
|
Dividend Details (2022) |
|
|
Dividend |
SAR 7.612 bln |
|
Percentage of capital |
17% (SAR 1.7 per share) |
In case of fractional shares, they will be compiled in one portfolio and will be sold at market price. Proceeds will be distributed to shareholders pro rata, within 30 days.
The recommendations remain subject to approvals from official authorities and bank’s shareholders, in terms of the capital increase and the number of shares granted.
Dividend History (SAR/share) Corporate Actions
| Announcement | Ex-Dividend | Payment | Dividends (M Riyal) | Dividends * | Notes |
| 12/01/2023 | 07/05/2023 | 18/05/2023 | 2,686.80 | 0.45 | |
| 03/07/2022 | 13/07/2022 | 21/07/2022 | 4,925.80 | 0.82 | |
| 27/01/2022 | 17/04/2022 | 26/04/2022 | 4,030.20 | 0.67 | |
| 09/08/2021 | 12/08/2021 | 23/08/2021 | 2,910.70 | 0.49 | |
| 04/04/2021 | 06/05/2021 | 23/05/2021 | 3,582.40 | 0.60 | |
| 26/12/2019 | 31/03/2020 | 09/04/2020 | 3,600.00 | 0.90 | |
| 29/07/2019 | 01/08/2019 | 21/08/2019 | 3,300.00 | 0.82 | |
| 23/12/2018 | 10/04/2019 | 24/04/2019 | 3,288.35 | 0.82 | |
| 30/07/2018 | 02/08/2018 | 12/08/2018 | 2,989.41 | 0.74 | |
| 31/12/2017 | 15/05/2018 | 29/05/2018 | 1,196.88 | 0.30 |
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 | 4.18 | 32.13 | 13.00 % |
| Last 5 Financial years | 6.49 | 35.79 | 18.13 % |
| Last 10 Financial years | 11.17 | 24.63 | 45.37 % |
Valuation Data (Latest Share Price)
| P/E (TTM) | 9.64 |
| P/E Before Unusual Items (TTM) | 9.64 |
| P/BV | 1.18 |
| Dividend Yield | 4.53 % |
| Market Cap. (M) | 198,600.00 |
| Return on Average Assets | 1.91 % |
| Return on Average Equity | 12.83 % |
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