Makkah Construction shareholders approve 15% cash dividend for FY19

20/04/2020 Argaam Exclusive

Makkah Construction and Development Co.’s shareholders approved a 15% cash dividend for the fiscal year ending Dec. 26, 2019, at SAR 1.5 per share, during the general assembly meeting held on April 19, 2020, according to a bourse filing on Monday.

 

Shareholders also elected members of the board of directors for the upcoming three-year term starting on July 12, 2020.

 

The new board includes Fahad Rabeh Al Otaibi, Abdul Rahman A Kader Mohamad Fakieh, Hamzah Mohamad Sairafi, Ibrahim Mohammad Ibrahim Al Issa, Ziad Basam Al Bassam, Mansour Abdullah Saeed, Saleh Bin Laden, Yasser Abdul Hameed Abo Solaiman, Mohamed Tariq M. Ismail, Ahmad Abdul Aziz Sulaiman Alhamdan and Turki Al Qunaibit.

 

Meanwhile, they elected Ibrahim Mohammad Ibrahim Al Issa, Saleh Bin Laden, Ziad Basam Al Bassam and Mansour Abdullah Saeed as members of the audit committee for the upcoming term.

Dividend Details (FY 2019)

Current Capital

SAR 1.648 bln

Number of shares

164.82 mln

Dividend

SAR 247.2 mln

Percentage of capital

15% (SAR 1.5 per share)

Record date

April 19, 2020 (Second trading day following this date)

Payment date

To be determined later

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Valuation Data (Latest Share Price)

P/E (TTM) 47.81
P/E Before Unusual Items (TTM) 50.26
P/BV 4.55
Dividend Yield 2.02 %
Market Cap. (M) 19,250.53
Return on Average Assets 7.85 %
Return on Average Equity 9.47 %

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