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SABIC shareholders approve 22.5% dividend for H2 2021
Saudi Basic Industries Corp.’s (SABIC) shareholders approved the board's recommendation to distribute a 22.5% cash dividend, or SAR 2.25 per share, for the second half of 2021, during the ordinary general meeting (OGM) held on April 10.
|
Dividend Details (H2 2021) |
|
|
Current capital |
SAR 30 bln |
|
Number of shares |
3 bln |
|
Dividend |
SAR 6.75 bln |
|
Percentage of capital |
22.5% (SAR 2.25 per share) |
|
Record date |
April 10 (Shareholders registered with Securities Depository Center Co. at the end of the second trading day following the general assembly) |
|
Payment date |
April 25, 2022 |
|
Total Dividend (2021) |
|
|
Total dividend |
SAR 12 bln |
|
Percentage of capital |
40% (SAR 4 per share) |
In a statement to Tadawul, SABIC said the shareholders also authorized the board of directors to distribute interim cash dividends on a semi-annual or quarterly basis for 2022, and to determine the maturity and disbursement dates.
Shareholders also approved the auditors’ report for 2021, along with financial statements and board report for the same year.
They approved the appointment of PricewaterhouseCoopers (PwC) as auditor to review and audit the quarterly (Q2, Q3 and Q4) and annual financial statements for 2022, in addition to Q1 2023 financial statements, as well as determining their fees.
Shareholders also discharged the board members for 2021, and elected board members for the next three-year term starting on April 10, 2022.
They also approved the formation of the audit committee, defining its duties, working procedure and members’ remuneration for the same three-year term.
Dividend History (SAR/share) Corporate Actions
| Announcement | Ex-Dividend | Payment | Dividends (M Riyal) | Dividends * | Notes |
| 15/12/2021 | 10/04/2022 | 25/04/2022 | 6,750.00 | 2.25 | |
| 22/06/2021 | 19/09/2021 | 03/10/2021 | 5,250.00 | 1.75 | |
| 16/12/2020 | 13/04/2021 | 03/05/2021 | 4,500.00 | 1.50 | |
| 17/06/2020 | 03/09/2020 | 20/09/2020 | 4,500.00 | 1.50 | |
| 18/12/2019 | 21/04/2020 | 12/05/2020 | 6,600.00 | 2.20 | |
| 23/05/2019 | 16/09/2019 | 30/09/2019 | 6,600.00 | 2.20 | |
| 19/12/2018 | 09/04/2019 | 30/04/2019 | 6,600.00 | 2.20 | |
| 05/06/2018 | 30/08/2018 | 17/09/2018 | 6,600.00 | 2.20 | |
| 19/12/2017 | 17/04/2018 | 01/05/2018 | 6,600.00 | 2.20 | |
| 21/06/2017 | 30/07/2017 | 17/08/2017 | 6,000.00 | 2.00 |
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 | 11.25 | 93.10 | 12.08 % |
| Last 5 Financial years | 20.05 | 101.42 | 19.77 % |
| Last 10 Financial years | 44.25 | 90.25 | 49.03 % |
Valuation Data (Latest Share Price)
| P/E (TTM) | More than 100 |
| P/E Before Unusual Items (TTM) | 55.305 |
| P/BV | 1.26 |
| Dividend Yield | 4.07 % |
| Market Cap. (M) | 209,100.00 |
| Return on Average Assets | 0.59 % |
| Return on Average Equity | 1.00 % |
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