Banque Saudi Fransi shareholders to vote on 4% dividend for 2020, buyback of 3 mln shares on May 5

12/04/2021 Argaam Exclusive

Banque Saudi Fransi’s (BSF) shareholders are set to vote on a 4% cash dividend at SAR 0.40 a share, for 2020, during the extraordinary general assembly meeting (EGM) that will be held on May 5, 2020.

Dividend Details (2020)

Current Capital

SAR 12.054 bln

Number of shares

1.2054 bln

Dividend

SAR 479.98 mln

Percentage of capital

4% (SAR 0.40 per share after deducting Zakat)

Record date

May 5, 2021 (including those registered at the Securities Depository Center two days after this date, are eligible to receive the dividend)

Payment date

May 31, 2021

Shareholders will also vote on authorizing the board of directors to distribute interim dividends on a semi-annual or quarterly basis for 2021.

 

In addition, they will vote on the buyback of 3 million shares at a maximum value of SAR 60 million to allocate them to the Employee Long-Term Incentive Plan. The repurchase will be financed through the bank’s own resources.

 

Furthermore, shareholders will vote on authorizing the board of directors to complete this process within a period of 12 months from the date of the EGM approval.

 

The repurchased shares will be retained no longer than 10 years from the date of the EGM approval. Later on, the bank will follow the rules and procedures stipulated in the relevant laws and regulations.

 

The statement indicated that the plan is part of the current program whose terms were previously defined by the board of directors and approved by the general assembly held on May 1, 2019.

Dividend History (SAR/share) Corporate Actions

Announcement Ex-Dividend Payment Dividends
(M Riyal)
Dividends * Notes
02/03/2021 05/05/2021 31/05/2021 479.98 0.40
30/12/2019 13/05/2020 08/06/2020 1,199.68 1.00
03/07/2019 11/07/2019 29/07/2019 1,199.69 1.00
27/12/2018 01/05/2019 16/05/2019 959.49 0.80
01/07/2018 10/07/2018 25/07/2018 1,079.42 0.90
04/03/2018 19/04/2018 06/05/2018 419.80 0.35
10/07/2017 16/07/2017 27/07/2017 1,259.30 1.04
19/01/2017 20/04/2017 04/05/2017 601.10 0.50
13/07/2016 21/07/2016 09/08/2016 662.95 0.55
24/12/2015 20/04/2016 08/05/2016 662.95 0.55
Historical dividend per share adjusted for the effect of capital changes and bonus shares, if any

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 3.89 31.10 12.50 %
Last 5 Financial years 6.97 25.93 26.89 %
Last 10 Financial years 10.92 25.08 43.55 %
Based on the beginning of the period (January 1 of the base year)

Historical Dividends

31.65
0.25 0.80 %

Valuation Data (Latest Share Price)

P/E (TTM) 8.94
P/E Before Unusual Items (TTM) 8.94
P/BV 1.00
Dividend Yield 4.85 %
Market Cap. (M) 38,030.37
Return on Average Assets 1.58 %
Return on Average Equity 11.75 %

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