Bahri board recommends capital hike to SAR 7.38 bln, 5% cash dividend for 2022
National Shipping Company of Saudi Arabia (Bahri) board of directors recommended yesterday, March 14, increasing capital from SAR 4.92 billion to SAR 7.38 billion via a 50% bonus issue (one bonus share for every two shares held), according to a statement to Tadawul.
In a separate filing to Tadawul, Bahri announced that the board proposed a cash dividend payment at 5%, or SAR 0.5 a share, for 2022.
Cash Dividend |
|
Current Capital |
SAR 4.92 bln |
No. of Shares |
492.2 mln |
Total Dividend |
SAR 246.1 mln |
Percentage of Capital |
5% (SAR 0.5 a share) |
Record Date |
Shareholders registered with Edaa on the second trading day following the general meeting. |
Payment Date |
To be determined later |
Details of Capital Top-Up – Bonus Issue |
|
Current Capital |
SAR 4.92 bln |
Number of Shares |
492.2 mln |
Percentage of Capital |
50% (One bonus share for every two shares held) |
New Capital |
SAR 7.38 bln |
No. of Shares |
738.3 mln |
Purpose |
Strengthening the company's capital base in line with its expansion and growth plans, in addition to creating higher value in the long term via investments in a number of available opportunities. |
Method |
Capitalizing SAR 351.75 mln from statutory reserve and SAR 2.11 bln from retained earnings. |
The capital increase and dividend payment are subject to the approvals of the competent authorities and the upcoming extraordinary general meeting (EGM).
Share fractions, if any, will be compiled in one portfolio and will be offered at market price with proceeds to be distributed pro rata within 30 days.
Dividend History (SAR/share) Corporate Actions
Announcement | Ex-Dividend | Payment | Dividends (M Riyal) | Dividends * | Notes |
15/03/2023 | 19/06/2023 | 16/07/2023 | 246.09 | 0.33 | |
21/09/2021 | 05/10/2021 | 24/10/2021 | 393.75 | 0.53 | |
28/01/2021 | 26/04/2021 | 09/05/2021 | 393.75 | 0.53 | |
21/09/2020 | 05/10/2020 | 22/10/2020 | 393.75 | 0.53 | |
20/01/2020 | 20/04/2020 | 10/05/2020 | 393.75 | 0.53 | |
29/09/2019 | 13/10/2019 | 31/10/2019 | 196.88 | 0.27 | |
11/12/2018 | 14/04/2019 | 28/04/2019 | 590.63 | 0.80 | |
14/12/2017 | 17/04/2018 | 03/05/2018 | 590.63 | 0.80 | |
18/12/2016 | 16/01/2017 | 31/01/2017 | 984.38 | 1.33 | |
24/12/2015 | 06/04/2016 | 21/04/2016 | 984.38 | 1.33 |
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 | 1.42 | 21.45 | 6.60 % |
Last 5 Financial years | 3.28 | 17.74 | 18.51 % |
Last 10 Financial years | 8.62 | 15.53 | 55.50 % |
Valuation Data (Latest Share Price)
P/E (TTM) | 10.04 |
P/E Before Unusual Items (TTM) | 11.84 |
P/BV | 1.60 |
Dividend Yield | 2.49 % |
Market Cap. (M) | 21,040.98 |
Return on Average Assets | 8.65 % |
Return on Average Equity | 17.06 % |
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