Saudi Electricity shareholders approve 7% cash dividend for FY2019

03/06/2020 Argaam Exclusive

Saudi Electricity Co.’s (SEC) shareholders approved the board’s recommendation to distribute a 7% cash dividend, at SAR 0.70 per share, for the fiscal year of 2019, during the extraordinary general meeting (EGM) held on June 2, according to a bourse filing on Wednesday.

Dividend Details (FY2019)

Current Capital

SAR 41.666 bln

Number of shares

4.1666 bln

Dividend*

SAR 749.3 bln

Percentage of capital

7% (equivalent to SAR 0.70 per share)

Record date

June 2, 2020 (Shareholders registered at the Security Depository Center (Edaa) by June 4, 2020)

Payment date

June 16, 2020

* Number of outstanding shares amounting to 1.070 million

In April, the Public Investment Fund (PIF) waived its share in SEC’s dividend for FY2019 to restructure the company and the electricity sector, Argaam reported.

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Saudi Electricity Co.
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Dividend Yield 3.69 %
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Return on Average Assets 0.54 %
Return on Average Equity 3.18 %

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