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Tawuniya proposes capital hike via 20% bonus shares, 10% dividend for 2022
The board of The Company for Cooperative Insurance (Tawuniya) recommended on May 7 increasing the company’s capital by 20% to SAR 1.5 billion through one-for-five bonus share distribution.
The board also recommended a 10% cash dividend, at SAR 1 per share, for 2022.
In a separate statement to Tadawul, Tawuniya said its board also recommended a 10% cash dividend, at SAR 1 per share, for 2022.
|
Capital Increase Details |
|
|
Current capital |
SAR 1.25 bln |
|
Number of shares |
125 mln |
|
Percentage of increase |
20% |
|
Method of increase |
1-for-5 bonus issue |
|
Capital after increase |
SAR 1.5 bln |
|
Shares after increase |
150 mln |
|
Reason |
To support the company’s capital base, raise growth rates and expansions in the coming years |
|
Used reserves |
SAR 250 mln will be capitalized from retained earnings |
|
Record date |
Shareholders of record by the close of trading on the date of EGM, and those registered with Edaa by the end of the second trading day following the EGM date, to be announced later. |
|
Dividend Details (2022) |
|
|
Total dividend |
SAR 125 mln |
|
Percentage of capital |
10% (SAR 1 per share) |
|
Record date |
Shareholders of record by the close of the second trading day following the EGM date, to be announced later. |
|
Payment date |
To be announced |
Fractional shares, if any, will be collected into one investment portfolio to be sold at market price. The value of the sold portfolio will be distributed to eligible shareholders pro rata within 30 days as of the date of the new shares allocation.
The bonus share distribution is subject to obtaining all necessary approvals from the competent authorities as well as the company’s shareholders, the statement added.
Dividend History (SAR/share) Corporate Actions
| Announcement | Ex-Dividend | Payment | Dividends (M Riyal) | Dividends * | Notes |
| 08/05/2023 | 07/06/2023 | 19/06/2023 | 125.00 | 0.83 | |
| 06/04/2021 | 29/04/2021 | 09/05/2021 | 100.00 | 0.67 | |
| 15/02/2017 | 21/03/2017 | 27/03/2017 | 500.00 | 3.33 | |
| 21/02/2016 | 21/03/2016 | 24/03/2016 | 100.00 | 0.67 | |
| 11/02/2015 | 16/03/2015 | 19/03/2015 | 145.00 | 0.97 | |
| 06/02/2012 | 12/03/2012 | 17/03/2012 | 262.50 | 1.75 | |
| 12/02/2011 | 30/03/2011 | 06/04/2011 | 150.00 | 1.00 | |
| 01/02/2010 | 09/03/2010 | 31/03/2010 | 200.00 | 1.33 | |
| 07/02/2009 | 10/03/2009 | 26/03/2009 | 100.00 | 0.67 | |
| 04/02/2008 | 11/03/2008 | 09/04/2008 | 500.00 | 3.33 |
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 | 1.83 | 66.00 | 2.78 % |
| Last 5 Financial years | 2.50 | 50.25 | 4.98 % |
| Last 10 Financial years | 7.47 | 23.20 | 32.19 % |
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Valuation Data (Latest Share Price)
| P/E (TTM) | 20.60 |
| P/E Before Unusual Items (TTM) | 20.60 |
| P/BV | 4.52 |
| Dividend Yield | 0.77 % |
| Market Cap. (M) | 19,440.00 |
| Return on Average Assets | 4.78 % |
| Return on Average Equity | 24.04 % |
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