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SASCO to vote on 1:6 bonus issue, 7.5% additional dividend for 2023 on June 9
Saudi Automotives Services Co.’s (SASCO) shareholders are set to vote on a board of directors’ recommendation of a 16.67% capital increase via a bonus share distribution, according to a statement to Tadawul.
The voting will take place during the extraordinary general meeting (EGM) that will be held on June 9.
Moreover, they will vote on an additional 7.5% cash dividend for 2023, at SAR 0.75 per share.
|
Capital Increase Details |
|
|
Current Capital |
SAR 600 mln |
|
Number of Shares |
60 mln |
|
Percentage of Capital |
16.67% |
|
Method |
One bonus share for every six existing shares |
|
New Capital |
SAR 700 mln |
|
Number of Shares |
70 mln |
|
Reasons |
To be compatible with the company's business size and assets and to support future expansions. |
|
Record Date |
June 9, 2024, including shareholders registered with Edaa by the close of the second trading day following the record date. |
|
Method |
Capitalizing the whole balance of the statutory reserve amounting to SAR 83.14 mln, in addition to SAR 16.86 mln from retained earnings. |
|
Dividend Details (Additional) |
|
|
Current Capital |
SAR 600 mln |
|
Number of Shares |
60 mln |
|
Dividend |
SAR 45 mln |
|
Percentage of Capital |
7.5% (SAR 0. 75 per share) |
|
Eligibility |
June 9, 2024 including shareholders registered with Edaa on the second trading day after the general meeting date |
|
Payment Date |
To be determined later |
|
Full-Year Dividend (2023) |
|
|
Total Dividend |
SAR 75 mln |
|
Percentage of Capital |
12.5% (SAR 1.25 a share) |
Additionally, shareholders will vote on delegating the board to distribute cash dividends to shareholders for 2024 on semiannual or quarterly basis.
Dividend History (SAR/share) Corporate Actions
| Announcement | Ex-Dividend | Payment | Dividends (M Riyal) | Dividends * | Notes |
| 28/03/2024 | 09/06/2024 | 01/07/2024 | 45.00 | 0.64 | |
| 11/10/2023 | 16/10/2023 | 06/11/2023 | 30.00 | 0.43 | |
| 19/12/2022 | 25/12/2022 | 05/01/2023 | 30.00 | 0.43 | |
| 05/09/2022 | 08/09/2022 | 21/09/2022 | 30.00 | 0.43 | |
| 14/04/2022 | 14/06/2022 | 29/06/2022 | 15.00 | 0.21 | |
| 28/12/2021 | 02/01/2022 | 17/01/2022 | 12.00 | 0.17 | |
| 09/09/2021 | 19/09/2021 | 04/10/2021 | 18.00 | 0.26 | |
| 28/03/2021 | 16/06/2021 | 05/07/2021 | 12.00 | 0.17 | |
| 27/10/2020 | 03/11/2020 | 18/11/2020 | 24.00 | 0.34 | |
| 14/05/2020 | 22/06/2020 | 05/07/2020 | 60.00 | 0.86 |
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 | 2.57 | 25.84 | 9.95 % |
| Last 5 Financial years | 3.94 | 14.43 | 27.32 % |
| Last 10 Financial years | 6.11 | 14.41 | 42.39 % |
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Valuation Data (Latest Share Price)
| P/E (TTM) | 54.51 |
| P/E Before Unusual Items (TTM) | More than 100 |
| P/BV | 6.44 |
| Dividend Yield | 1.68 % |
| Market Cap. (M) | 5,425.00 |
| Return on Average Assets | 1.63 % |
| Return on Average Equity | 11.61 % |
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