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Arabian Pipes board proposes 0.15% dividend for 2024, 1:3 bonus issue
Arabian Pipes Co.’s board of directors recommended a 0.15% cash dividend, or SAR 0.15 per share, for 2024.
|
Dividend Details (2024) |
|
|
Current capital |
SAR 150 mln |
|
Number of shares |
150 mln |
|
Dividend |
SAR 22.5 mln |
|
Percentage of capital |
0.15% (SAR 0.15 per share) |
|
Record date |
Shareholders of record on the upcoming general assembly date and those registered with the Securities Depository Center (Edaa) by the close of the second trading day following the general assembly date
|
|
Payment date |
To be set later |
In a separate statement to Tadawul, the company said that the board also recommended a 33% capital increase from SAR 150 million to SAR 200 million through a 1-for-3 bonus share issue.
The capital hike will be financed through capitalizing part of the retained earnings.
|
Capital Increase Details |
|
|
Current Capital |
SAR 150 mln |
|
Number of Shares |
150 mln |
|
Percentage of Increase |
33% |
|
New Capital |
SAR 200 mln |
|
New Number of Shares |
200 mln |
|
Method |
1-for-3 bonus share distribution |
|
Capitalization |
Capitalizing SAR 50 mln from retained earnings |
|
Record Date |
Shareholders of record and those registered with Edaa on the second trading day following the extraordinary general meeting (EGM), the date for which will be determined later |
|
Reason |
To enhance capital base, which contributes to supporting the company’s future plans |
Fractional shares, if any, will be compiled in one portfolio for all shareholders and will be offered at market price. Proceeds will be distributed among entitled shareholders pro rata within 30 days maximum.
The decision is conditional upon approvals from competent authorities and EGM, the statement added.
Dividend History (SAR/share) Corporate Actions
| Announcement | Ex-Dividend | Payment | Dividends (M Riyal) | Dividends * | Notes |
| 27/02/2025 | - | - | 22.50 | 0.15 | |
| 29/12/2007 | 05/04/2008 | 16/04/2008 | 47.30 | 0.32 |
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 | 0.15 | 4.39 | 3.42 % |
| Last 5 Financial years | 0.15 | 3.37 | 4.45 % |
| Last 10 Financial years | 0.15 | 5.36 | 2.80 % |
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Valuation Data (Latest Share Price)
| P/E (TTM) | 9.97 |
| P/E Before Unusual Items (TTM) | 9.80 |
| P/BV | 4.18 |
| Dividend Yield | 1.23 % |
| Market Cap. (M) | 1,677.00 |
| Return on Average Assets | 18.29 % |
| Return on Average Equity | 25.70 % |
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