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ACWA Power EGM OKs 4.5% dividend for 2023, 1:500 bonus issue
Shareholders of ACWA Power Co. approved the board of directors' recommendation to distribute a 4.5% cash dividend, or SAR 0.45 per share, for 2023, during the extraordinary general meeting (EGM) held on April 29, the company said in a statement to Tadawul.
Shareholders also approved the board's recommendation to increase capital by SAR 14.62 million from retained earnings through a 1-for-500 bonus share distribution.
|
Dividend Details (2023) |
|
|
Current capital |
SAR 7.31 bln |
|
Number of shares |
731.1 mln |
|
Dividend |
SAR 329 mln |
|
Percentage of capital |
4.5% (SAR 0.45 per share) |
|
Record date |
April 29, 2024, including shareholders registered with Edaa by the close of the second trading day following the record date |
|
Payment date |
May 13, 2024 |
|
Capital Increase Details |
|
|
Current capital |
SAR 7.31 bln |
|
Number of shares |
731.1 mln |
|
Percentage of increase |
0.20% (1-for-500 bonus issue) |
|
New capital |
SAR 7.32 bln |
|
New number of shares |
732.56 mln |
|
Method |
Capitalization of SAR 14.62 mln from retained earnings |
|
Reason |
To focus on growth of the projects outlined in the strategic plan |
|
Record Date |
April 29, 2024, including shareholders registered with Edaa by the close of the second trading day following the record date |
All share fractions will be collected in one portfolio for all eligible shareholders and sold at market price within 30 days from finishing the allocation of the new shares. The value will then be distributed pro rata among eligible shareholders, the statement added.
Meanwhile, the EGM authorized the board to distribute cash dividends for 2024 on a semi-annual or quarterly basis.
In a separate statement, the Saudi Exchange (Tadawul) said the fluctuation limits on April 30 for the stock will be based on a share price of SAR 393.2, and the outstanding orders will be canceled.
Furthermore, the Securities Depository Center (Edaa) will deposit the additional shares into the investor’s portfolios by May 2.
Dividend History (SAR/share) Corporate Actions
| Announcement | Ex-Dividend | Payment | Dividends (M Riyal) | Dividends * | Notes |
| 29/02/2024 | 29/04/2024 | 13/05/2024 | 328.99 | 0.45 | |
| 26/01/2023 | 22/06/2023 | 12/07/2023 | 606.81 | 0.83 | |
| 01/06/2022 | 30/06/2022 | 21/07/2022 | 562.95 | 0.77 |
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 | 2.05 | 72.65 | 2.82 % |
| Last 5 Financial years | N/A | N/A | N/A |
| Last 10 Financial years | N/A | N/A | N/A |
Valuation Data (Latest Share Price)
| P/E (TTM) | More than 100 |
| P/E Before Unusual Items (TTM) | More than 100 |
| P/BV | 15.43 |
| Dividend Yield | 0.18 % |
| Market Cap. (M) | 285,698.40 |
| Return on Average Assets | 3.28 % |
| Return on Average Equity | 9.13 % |
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