Riyadh Cables shareholders OK 15% dividend for 2022, share buyback

21/06/2023 Argaam Exclusive

Shareholders of Riyadh Cables Group Co. approved the board’s recommendation on a 15% cash dividend, or SAR 1.5 per share, for 2022 during the extraordinary general meeting (EGM) held on June 20.

 

Dividend Details (2022)

Current Capital

SAR 1.50 bln

Number of Shares

150 mln

Total Dividend

SAR 225 mln

Percentage of Capital

15% (SAR 1.5 a share)

Record Date

June 20 (Shareholders registered with Edaa on the second day of trading following the EGM date)

Payment Date

Within 15 days from the EGM date
 

In a statement to Tadawul, the company said shareholders also approved an employee stock incentive program and delegated the board to set the relevant terms and allocation price per share.

 

Shareholders also gave the go-ahead for the buyback of 500,000 shares maximum, to be allocated to the long-term employee stock incentive program. The share buyback will be financed from the company's internal resources.

 

The company shall retain the repurchased shares for a maximum period of five years from the shareholders’ approval date until they are allocated to eligible employees.

 

After that period, the company shall follow the procedures and regulations stipulated in the relevant laws and regulations.

 

Riyadh Cables board was also authorized to pay interim, semi-annual, or quarterly dividends for 2023.

Dividend History (SAR/share) Corporate Actions

Announcement Ex-Dividend Payment Dividends
(M Riyal)		 Dividends * Notes
12/03/2023 20/06/2023 13/07/2023 225.00 1.50
Historical dividend per share adjusted for the effect of capital changes and bonus shares, if any

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 N/A N/A N/A
Last 5 Financial years N/A N/A N/A
Last 10 Financial years N/A N/A N/A
Based on the beginning of the period (January 1 of the base year)

Historical Dividends


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Riyadh Cables Group Co.
119.00
0.40 0.34 %

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Valuation Data (Latest Share Price)

P/E (TTM) 25.51
P/E Before Unusual Items (TTM) 25.12
P/BV 6.75
Dividend Yield 2.70 %
Market Cap. (M) 17,850.00
Return on Average Assets 12.92 %
Return on Average Equity 28.45 %

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