Saudi Electricity Co.’s shareholders are set to vote on a 7% cash dividend, at SAR 0.70 per share, for the fiscal year of 2019, during the extraordinary general assembly meeting to be held on June 2.
|
Dividend Details (2019) |
|
|
Current Capital |
SAR 41.666 bln |
|
Number of shares |
4.1666 bln |
|
Dividend* |
SAR 749.3 bln |
|
Percentage of capital |
7% (SAR 0.7 per share) |
|
Record date |
June 2, 2020 |
|
Payment date |
Within 15 days from the record date |
In April, the utility provider said that the Public Investment Fund (PIF) waived its share in SEC’s dividend for the fiscal year 2019.
In addition, shareholders will vote on financial statements, as well as board and auditor reports for fiscal year ending Dec. 31, 2019.
They will also appoint a new auditor for Q2, Q3, Q4, FY2020 and Q1 2021, vote on business contracts signed with The National Shipping Company of Saudi Arabia (Bahri) last year and approve board remuneration of SAR 848,077 million for FY2019.
Shareholders will participate in the meeting through electronic voting as of May 29, in line with the Capital Market Authority's (CMA) circular issued, on March 16, enabling shareholders to participate and vote on general meeting agenda items through Tadawulaty system in line with the government’s efforts to prevent spread of coronavirus.
| P/E (TTM) | 20.03 |
| P/E Before Unusual Items (TTM) | 23.13 |
| P/BV | 0.76 |
| Dividend Yield | 3.69 % |
| Market Cap. (M) | 70,832.03 |
| Return on Average Assets | 0.67 % |
| Return on Average Equity | 3.81 % |
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