Saudi Aramco board plans 1:10 bonus shares, declares SAR 0.33 dividend for Q4 2022

Saudi Aramco’s board of directors recommended increasing capital to SAR 90 billion from SAR 75 billion through the capitalization of SAR 15 billion from retained earnings.

Saudi Aramco will distribute one bonus share for every 10 existing shares.

*There is no nominal value for Saudi Aramco’s share. 

The eligibility of the bonus shares will be for shareholders who own the shares by the close of trading on the extraordinary general meeting (EGM) date, which will be announced later, and who are registered with the Securities Depository Center Co. (Edaa) at the end of the second trading following EGM date. 

In case of bonus shares fractions, the world’s largest oil exporter will collect all fractions in one portfolio to be sold at market price. The relevant value will be distributed among the eligible shareholders pro rata within a period of 30 days maximum from the date of determining the eligible shares for each shareholder. 

The proposed stock dividend is subject to obtaining necessary approvals from competent authorities and Saudi Aramco’s shareholders on the capital increase and number of shares. 

Separately, the board also announced a total cash dividend of SAR 73.15 billion ($19.51 billion) for the fourth quarter of 2022, the company said in a statement to Tadawul.

The dividend was 4% higher quarter-on-quarter. It also aligns with the company’s policy, which aims to pay sustainable and increasing dividends.

*There is no nominal value for Saudi Aramco’s share.

**The number of eligible shares stands at 219.93 bln.