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Bank Albilad shareholders approve 25% capital hike, 5% cash dividend
Shareholders of Bank Albilad approved during the extraordinary general meeting (EGM), held on April 29, the board’s proposal to raise capital by distributing one bonus share for every four shares held, by capitalizing a portion of the retained earnings, according to a statement to Tadawul.
The EGM further approved a 5% cash dividend for 2023, at SAR 0.50 per share.
|
Capital Increase Details |
|
|
Current Capital |
SAR 10 bln |
|
Current Number of Shares |
1 bln |
|
Increase Percentage (%) |
25% |
|
New Capital |
SAR 12.5 bln |
|
New Number of Shares |
1.25 bln |
|
Method |
Issuing 1 bonus share for every 4 shares held |
|
Nature & Value of Reserve |
Capitalizing SAR 2.5 bln from retained earnings |
|
Eligibility |
April 29, 2024 (Shareholders registered with Edaa on the second trading day following the EGM) |
|
Reason |
Strengthening the bank’s financial solvency and utilizing its resources for operating activities |
|
Dividend Details (2023) |
|
|
Current Capital |
SAR 10 bln |
|
Number of Shares |
1 bln |
|
Total Dividend |
SAR 500 mln |
|
Percentage of Capital |
5% (SAR 0.50 per share) |
|
Record Date |
April 29, 2024 (Shareholders of record and those registered with the Securities Depository Center Co. (Edaa) by the close of the second trading day after the record date) |
|
Payment Date |
May 16, 2024 |
The bank pointed out that the shareholders also authorized the board of directors to distribute interim dividends, quarterly or semi-annually, for 2024.
The Saudi Exchange (Tadawul) said that the fluctuation limits on today, April 30, for Bank Albilad will be based on a share price of SAR 35.60 and the outstanding orders will be canceled.
Furthermore, the Securities Depository Center (Edaa) will deposit the bonus shares into the investors’ portfolios before the beginning of trading on May 2.
Dividend History (SAR/share) Corporate Actions
| Announcement | Ex-Dividend | Payment | Dividends (M Riyal) | Dividends * | Notes |
| 05/02/2024 | 29/04/2024 | 16/05/2024 | 500.00 | 0.40 | |
| 01/01/2023 | 01/05/2023 | 10/05/2023 | 500.00 | 0.40 | |
| 11/02/2020 | 26/04/2020 | 04/05/2020 | 375.00 | 0.30 | |
| 21/07/2019 | 25/07/2019 | 08/08/2019 | 300.00 | 0.24 | |
| 14/01/2018 | 11/04/2018 | 29/04/2018 | 240.00 | 0.19 | |
| 26/09/2017 | 01/10/2017 | 19/10/2017 | 180.00 | 0.14 | |
| 29/12/2016 | 08/05/2017 | 25/05/2017 | 300.00 | 0.24 | |
| 08/01/2015 | 14/04/2015 | 30/04/2015 | 200.00 | 0.16 |
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 | 0.80 | 16.94 | 4.72 % |
| Last 5 Financial years | 1.34 | 13.00 | 10.31 % |
| Last 10 Financial years | 2.08 | 11.21 | 18.52 % |
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Valuation Data (Latest Share Price)
| P/E (TTM) | 17.18 |
| P/E Before Unusual Items (TTM) | 17.18 |
| P/BV | 2.79 |
| Dividend Yield | 1.10 % |
| Market Cap. (M) | 45,062.50 |
| Return on Average Assets | 1.80 % |
| Return on Average Equity | 17.07 % |
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