The board of directors of Zahrat Al Waha for Trading Co. approved, in a meeting held today, Nov. 15, to increase the company's capital by 50%, through 1-for-2 bonus share distribution, as well as a cash dividend at 15% of capital (SAR 1.5 per share) for 2021, according to a bourse filing.
|
Details of Bonus Issue |
|
|
Current capital |
SAR 150 mln |
|
Number of shares |
15 mln |
|
Capital hike % |
50% (one share for every two shares held) |
|
Capital after increase |
SAR 225 mln |
|
Number of shares after increase |
22.5 mln |
|
Objective of capital hike |
To enhance the company's financial solvency and strengthen its capital to match the size of its business and its future aspirations. |
|
Method of increase |
Through capitalizing SAR 75 million from retained earnings |
|
Dividend Details (2021) |
|
|
Current capital |
SAR 150 mln |
|
Number of shares |
15 mln |
|
Dividend |
SAR 22.5 mln |
|
Percentage of capital |
15% (equivalent to SAR 1.5 per share) |
|
Record date |
Shareholders registered at the Securities Depository Center (Edaa) at the end of the second trading day following the day of the extraordinary general assembly meeting. |
|
Payment date |
To be announced later |
The capital increase and the bonus share distribution are subject to the approval of the competent authorities as well as the company's extraordinary general meeting (EGM).
In the case of any bonus shares having fractions, these will be collected into one investment portfolio and will then be sold at market price within 30 days from the date of determining the allocation of new shares to each shareholder, the company added.
| P/E (TTM) | 25.94 |
| P/E Before Unusual Items (TTM) | 25.94 |
| P/BV | 2.89 |
| Dividend Yield | 3.65 % |
| Market Cap. (M) | 924.75 |
| Return on Average Assets | 6.03 % |
| Return on Average Equity | 11.54 % |
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