SARCO shareholders approve 7.5% cash dividend for 2020, refuse discharging board from liabilities

22/04/2021 Argaam Exclusive

Saudi Arabia Refineries Co.'s (SARCO) shareholders approved the board of directors’ recommendation for the distribution of cash dividend at SAR 0.75 per share, or 7.5% of capital, for 2020, during the ordinary general assembly meeting (OGM) held on April 21, 2021. 

Dividend Details 

Current Capital 

SAR 150 mln 

Number of shares 

15 mln shares 

Dividend 

SAR 11.25 mln 

Percentage of capital 

7.5 % (SAR 0.75 per share) 

Eligibility 

April 21, 2021 and shareholders registered in the shareholders’ register with the Securities Depository Center Co. (Edaa) at the end of the second day after this date. 

Payment date 

May 10, 2021

Meanwhile, shareholders elected members of the board of directors for the upcoming three-year term starting on May 1, 2021. 

 

The new board includes Iyad bin Muhammad Haider Sheikh, Yasser Al-Aqeel, Ali bin Saleh Khabiti, Hattan bin Hamid Al-Shanbari, Sulaiman bin Saad Al-Humaid, Maqid bin Ibrahim Al-Otaibi, Prince Mohammed bin Khaled bin Turki and Fahad bin Abdulrahman Al-Makeal. 

 

Shareholders refused to approve audited financial statements, and board and audit reports for 2020, as well as discharging board members from liabilities.

Dividend History (SAR/share) Corporate Actions

Announcement Ex-Dividend Payment Dividends
(M Riyal)
Dividends * Notes
04/03/2021 21/04/2021 10/05/2021 11.25 0.75
11/03/2020 21/04/2020 10/05/2020 15.00 1.00
07/03/2019 24/04/2019 08/05/2019 11.25 0.75
01/03/2018 24/04/2018 08/05/2018 7.50 0.50
23/02/2016 27/04/2016 19/05/2016 7.50 0.50
23/02/2015 28/04/2015 19/05/2015 10.50 0.70
19/02/2014 28/04/2014 19/05/2014 9.00 0.60
19/02/2013 01/05/2013 22/05/2013 7.50 0.50
13/02/2012 15/04/2012 12/05/2012 7.50 0.50
15/02/2011 30/03/2011 03/05/2011 7.50 0.50
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 2.25 42.30 5.32 %
Last 5 Financial years 3.50 40.13 8.72 %
Last 10 Financial years 5.80 77.25 7.51 %
Based on the beginning of the period (January 1 of the base year)

Historical Dividends

72.50
(0.20) (0.28 %)

Valuation Data (Latest Share Price)

P/E (TTM) NEG
P/E Before Unusual Items (TTM) NEG
P/BV 2.86
Dividend Yield 0.00 %
Market Cap. (M) 1,087.50
Return on Average Assets (2.83 %)
Return on Average Equity (2.88 %)

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