Aldrees Petroleum and Transport Services Co.’s (Aldrees) board of directors recommended increasing the company’s capital to SAR 750 million from SAR 600 million, through distribution of 25% bonus shares (one bonus share for every four shares owned), the firm said in a bourse statement today, Jan. 19.
The board also recommended a 10% cash dividend, at SAR 1 per share, for fiscal year 2020.
|
Details of Capital Increase |
|
|
Current Capital |
SAR 600 mln |
|
Number of Shares |
60 mln |
|
Percentage Increase |
25% (1 bonus share for every 4 shares owned) |
|
Capital after Increase |
SAR 750 mln |
|
Number of Shares |
75 mln |
|
Reason |
To commensurate with the size of the company's business and future expansions |
|
Nature & Value of Reserves Used |
The increase in capitalization from retained earnings |
|
Eligibility |
Those registered as per the shareholders registry at the deposit center at the end of the second working day after eligibility date |
|
Dividend Details |
||
|
Current Capital |
SAR 600 mln |
|
|
Number of shares |
60 mln |
|
|
Dividend |
SAR 60 mln |
|
|
Percentage of capital |
10% (equivalent to SAR 1 per share) |
|
|
Record date |
|
|
|
Payment date |
To be announced |
|
The proposed granting of bonus shares is subject to obtaining necessary approvals from official authorities and extraordinary general assembly meeting on the capital increase and number of granted shares, the statement said.
In case of bonus shares fractions, the company will collect it in one portfolio and sell it at market price within 30 days from finishing allocating the new shares to each shareholder.
| P/E (TTM) | 41.64 |
| P/E Before Unusual Items (TTM) | 42.13 |
| P/BV | 9.49 |
| Dividend Yield | 0.56 % |
| Market Cap. (M) | 13,200.00 |
| Return on Average Assets | 4.12 % |
| Return on Average Equity | 24.78 % |
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