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SASCO board proposes 1-for-6 bonus issue, 7.5% added dividend for 2023
Saudi Automotives Services Co.’s (SASCO) board of directors, on March 27, recommended a 16.67% capital increase via a bonus share distribution by capitalizing SAR 100 million from the retained earnings, according to a statement to Tadawul.
Moreover, the board recommended an additional 7.5% cash dividend for 2023, at SAR 0.75 per share, the company said in a separate statement.
|
Capital Increase Details |
|
|
Current Capital |
SAR 600 mln |
|
Number of Shares |
60 mln |
|
Percentage of Capital |
16.67% |
|
Method |
One bonus share for every six existing shares via capitalizing SAR 100 mln from retained earnings |
|
New Capital |
SAR 700 mln |
|
Number of Shares |
70 mln |
|
Reasons |
To be compatible with the company's business size and assets and to support future expansions. |
|
Record Date |
Shareholders of record on the general meeting day and those registered with Edaa by the close of the second trading day following the record date. |
|
Dividend Details (Additional) |
|
|
Current Capital |
SAR 600 mln |
|
Number of Shares |
60 mln |
|
Dividend |
SAR 45 mln |
|
Percentage of Capital |
7.5% (SAR 0. 75 per share) |
|
Eligibility |
Shareholders of record and those registered with Edaa on the second trading day after the general meeting date |
|
Payment Date |
To be determined later |
|
Full-Year Dividend (2023) |
|
|
Total Dividend |
SAR 75 mln |
|
Percentage of Capital |
12.5% (SAR 1.25 a share) |
Fractional shares, if any, will be compiled in one portfolio for shareholders and will be sold at the market price and then proceeds will be distributed to the eligible shareholders pro rata in 30 days.
The bonus share distribution is subject to the approval of the competent authorities and the extraordinary general meeting (EGM).
Dividend History (SAR/share) Corporate Actions
| Announcement | Ex-Dividend | Payment | Dividends (M Riyal) | Dividends * | Notes |
| 28/03/2024 | 09/06/2024 | 01/07/2024 | 45.00 | 0.64 | |
| 11/10/2023 | 16/10/2023 | 06/11/2023 | 30.00 | 0.43 | |
| 19/12/2022 | 25/12/2022 | 05/01/2023 | 30.00 | 0.43 | |
| 05/09/2022 | 08/09/2022 | 21/09/2022 | 30.00 | 0.43 | |
| 14/04/2022 | 14/06/2022 | 29/06/2022 | 15.00 | 0.21 | |
| 28/12/2021 | 02/01/2022 | 17/01/2022 | 12.00 | 0.17 | |
| 09/09/2021 | 19/09/2021 | 04/10/2021 | 18.00 | 0.26 | |
| 28/03/2021 | 16/06/2021 | 05/07/2021 | 12.00 | 0.17 | |
| 27/10/2020 | 03/11/2020 | 18/11/2020 | 24.00 | 0.34 | |
| 14/05/2020 | 22/06/2020 | 05/07/2020 | 60.00 | 0.86 |
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 | 2.57 | 25.84 | 9.95 % |
| Last 5 Financial years | 3.94 | 14.43 | 27.32 % |
| Last 10 Financial years | 6.11 | 14.41 | 42.39 % |
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Valuation Data (Latest Share Price)
| P/E (TTM) | 56.27 |
| P/E Before Unusual Items (TTM) | More than 100 |
| P/BV | 6.65 |
| Dividend Yield | 1.68 % |
| Market Cap. (M) | 5,600.00 |
| Return on Average Assets | 1.63 % |
| Return on Average Equity | 11.61 % |
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