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Bank Albilad board proposes 1:4 bonus issue, 5% dividend for 2023
Bank Albilad board of directors recommended on Feb. 4 the distribution of one bonus share for every four shares held to raise capital by capitalizing retained earnings.
The board also proposed a 5% cash dividend, or SAR 0.50 per share after Zakat, for 2023, the bank said in a statement to Tadawul.
|
Capital Increase Highlights |
|
|
Current Capital |
SAR 10 bln |
|
Number of shares |
1 bln |
|
Capital increase (%) |
25% |
|
New Capital |
SAR 12.5 bln |
|
New Number of Shares |
1.25 bln |
|
Method |
Distributing one bonus share for every four shares held |
|
Nature & Value of Reserve |
Capitalizing SAR 2.5 bln of retained earnings |
|
Eligibility |
Shareholders registered with Edaa on the second trading day following the extraordinary general meeting (EGM), the date for which will be determined later |
|
Reason |
Strengthening the bank’s financial solvency and utilizing its resources for operating activities |
|
Dividend Details (2023) |
|
|
Current Capital |
SAR 10 bln |
|
Number of Shares |
1 bln |
|
Total Dividend |
SAR 500 mln |
|
Percentage of Capital* |
5% (SAR 0.50 per share after Zakat) |
|
Record Date |
Shareholders of record on the EGM date and those registered with Edaa by the close of trading on the second trading day after the meeting |
|
Payment Date |
To be determined later |
*After Zakat
The approval of the Saudi Central Bank (SAMA) was obtained on the annual dividend, Bank Albilad added.
Fractional shares, if any, will be collected in one portfolio for all shareholders and sold at the market price, then their value will be distributed among eligible shareholders, on a pro rata basis, within a period not exceeding 30 days from the date of determining the shares due to each shareholder.
The bonus share distribution is subject to the approval of the competent authorities as well as the bank’s shareholders.
Dividend History (SAR/share) Corporate Actions
| Announcement | Ex-Dividend | Payment | Dividends (M Riyal) | Dividends * | Notes |
| 05/02/2024 | 29/04/2024 | 16/05/2024 | 500.00 | 0.40 | |
| 01/01/2023 | 01/05/2023 | 10/05/2023 | 500.00 | 0.40 | |
| 11/02/2020 | 26/04/2020 | 04/05/2020 | 375.00 | 0.30 | |
| 21/07/2019 | 25/07/2019 | 08/08/2019 | 300.00 | 0.24 | |
| 14/01/2018 | 11/04/2018 | 29/04/2018 | 240.00 | 0.19 | |
| 26/09/2017 | 01/10/2017 | 19/10/2017 | 180.00 | 0.14 | |
| 29/12/2016 | 08/05/2017 | 25/05/2017 | 300.00 | 0.24 | |
| 08/01/2015 | 14/04/2015 | 30/04/2015 | 200.00 | 0.16 |
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 | 0.80 | 16.94 | 4.72 % |
| Last 5 Financial years | 1.34 | 13.00 | 10.31 % |
| Last 10 Financial years | 2.08 | 11.21 | 18.52 % |
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Valuation Data (Latest Share Price)
| P/E (TTM) | 17.41 |
| P/E Before Unusual Items (TTM) | 17.41 |
| P/BV | 2.83 |
| Dividend Yield | 1.10 % |
| Market Cap. (M) | 45,687.50 |
| Return on Average Assets | 1.80 % |
| Return on Average Equity | 17.07 % |
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