KEIR shareholders approve 10-for-1 stock split, 7.4% dividend for 2022

21/06/2023 Argaam
Logo ofKEIR International Co.

Logo of KEIR International Co.


Shareholders of KEIR International Co. approved the board’s recommendation to reduce the stock’s par value from SAR 10 to SAR 1, during the extraordinary general meeting (EGM) held on June 20, according to a statement to Tadawul.

 

There is no change in the company's capital before and after stock split, KEIR said.

 

Stock Split Details

Current Capital

SAR 120 mln

Number of Shares

12 mln

Share Par Value

SAR 10

New Capital

SAR 120 mln

New Number of Shares

120 mln

Record Date

June 20, 2023 (Shareholders registered with Edaa by the end of the second trading day following the EGM)

 

The stock split will apply to shareholders of record and those registered with Edaa on the second trading day following the EGM date.

 

The stock split will apply to the share price as of the business day following the EGM, and the number of shares will be adjusted in shareholder portfolios on the second trading day following the EGM date.

 

In addition, KEIR’s shareholders approved a 7.4% cash dividend, or SAR 0.74 per share, for 2022.

 

Dividend Details (2022)

Current capital

SAR 120 mln

Number of shares

12 mln

Dividend

SAR 8.93 mln

Percentage of capital

7.4% (SAR 0.74 per share)

Record date

June 20, 2023 (Shareholders of record with Edaa by the end of the second trading day following the record date) 

Payment date

July 16, 2023

 

In a separate statement, Tadawul said the stock’s fluctuation limits will be based on a share price of SAR 5.74 today, June 21. Accordingly, the outstanding orders will be canceled.

 

The Securities Depository Center (Edaa) will deposit the split shares into the investor’s portfolios by July 2, the statement added.

Comments {{getCommentCount()}}

Be the first to comment

loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.