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Aldrees shareholders OK 1-for-3 bonus issue, 10% dividend for 2023
Aldrees Petroleum and Transport Services Co.’s shareholders approved distributing cash dividends at SAR 1 per share, or 10% of the capital, for 2023, during the extraordinary general meeting (EGM) held on May 5.
The shareholders also approved a 33.33% capital increase by distributing one bonus share for every three shares owned, according to a statement to Tadawul.
|
Cash Dividend (2023) |
|
|
Capital |
SAR 750 mln |
|
Number of Shares |
75 mln |
|
Total Dividend |
SAR 75 mln |
|
Percentage of Capital |
10% (SAR 1 per share) |
|
Record Date |
Shareholders of record on May 5, 2024, and those registered with the Securities Depository Center Co. (Edaa) at the end of the second trading day following the due date. |
|
Payment Date |
May 20, 2024 |
|
Bonus Issue Details |
||
|
Current Capital |
SAR 750 mln |
|
|
Current Number of Shares |
75 mln |
|
|
Percentage of Increase |
33.33% (A 1-for-3 bonus share distribution) |
|
|
New Capital |
SAR 1 bln |
|
|
New Number of Shares |
100 mln |
|
|
Record Date |
Shareholders of record on May 5, 2024, and those registered with the Securities Depository Center Co. (Edaa) at the end of the second trading day following the EGM date. |
|
|
Reason |
To align the company's capital with its business size and future aspirations |
|
|
Method |
Capitalization from retained earnings |
|
Fractional shares, if any, will be collected in one portfolio and sold at the market price within 30 days of finishing allocating the new shares to each shareholder, the statement added.
In a separate statement, the Saudi exchange (Tadawul) announced that the stock’s fluctuation limits for Aldrees will be based on a share price of SAR 128 for today, May 6. Accordingly, the outstanding orders will be canceled.
The Securities Depository Center (Edaa) will deposit the split shares into investors’ portfolios by May 8, the statement added.
Dividend History (SAR/share) Corporate Actions
| Announcement | Ex-Dividend | Payment | Dividends (M Riyal) | Dividends * | Notes |
| 28/01/2024 | 05/05/2024 | 20/05/2024 | 75.00 | 0.75 | |
| 22/01/2023 | 01/05/2023 | 15/05/2023 | 150.00 | 1.50 | |
| 18/01/2022 | 28/02/2022 | 14/03/2022 | 112.50 | 1.13 | |
| 19/01/2021 | 14/04/2021 | 28/04/2021 | 60.00 | 0.60 | |
| 31/03/2020 | 28/04/2020 | 12/05/2020 | 90.00 | 0.90 | |
| 17/01/2019 | 18/03/2019 | 02/04/2019 | 50.00 | 0.50 | |
| 18/01/2018 | 05/03/2018 | 19/03/2018 | 50.00 | 0.50 | |
| 17/01/2017 | 12/03/2017 | 22/03/2017 | 40.00 | 0.40 | |
| 18/01/2016 | 02/03/2016 | 28/03/2016 | 80.00 | 0.80 | |
| 18/01/2015 | 08/03/2015 | 07/04/2015 | 80.00 | 0.80 |
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 | 3.38 | 38.60 | 8.74 % |
| Last 5 Financial years | 4.88 | 18.71 | 26.06 % |
| Last 10 Financial years | 7.88 | 13.39 | 58.83 % |
Valuation Data (Latest Share Price)
| P/E (TTM) | 38.993 |
| P/E Before Unusual Items (TTM) | 39.451 |
| P/BV | 8.89 |
| Dividend Yield | 0.56 % |
| Market Cap. (M) | 12,360.00 |
| Return on Average Assets | 4.12 % |
| Return on Average Equity | 24.78 % |
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