Almarai shareholders to vote on 10% dividend for 2021, buyback of 10 mln shares on April 12

20/03/2022 Argaam Exclusive

Almarai Co.’s shareholders are set to vote on the board's recommendation to distribute a 10% cash dividend, or SAR 1 per share, for 2021, during the extraordinary general meeting (EGM) that will be held on April 12, according to a bourse filing.

 

Dividend Details (2021)

Current Capital

SAR 10 bln

Number of Shares

1bln

Dividend

SAR 1 bln

Percentage of Capital (%)

10% (SAR 1 per share)

Record Date

April 12, 2022 (Shareholders registered with the Securities Depository Center at the end of the second trading day following the due date)

Payment Date

To be determined upon the approval of the company's EGM

 

Shareholders will also vote on purchasing of up to 10 million shares and allocating them within the employee share participation program (ESOP), which will be financed by the company’s own resources. In addition, they will authorize the board of directors to complete the purchase in one or several tranches over a maximum period of 12 months from the date of the EGM resolution, as well as to authorize the board of directors to determine the conditions of this program, including the allocation price for each share offered to the designated employees.

 

The purchased shares will be kept a maximum of 10 years from the date of EGM approval. After the lock-in period ends, the company will follow the procedures and mandatory in the relevant laws and regulations.

 

They will vote on a financial services contract, concluded in 2021, with a value of SAR 15 million between the company and Saudi National Bank, in which Ammar bin Abdulwahid bin Faleh Alkhudairy (independent member) has a direct interest.

 

Additionally, shareholders will vote on several business contracts in which company executives have indirect interests.

 

The e-voting on the agenda items will start on April 10 via Tadawualty services.

 

Dividend History (SAR/share) Corporate Actions

Announcement Ex-Dividend Payment Dividends
(M Riyal)
Dividends * Notes
16/12/2021 12/04/2022 20/04/2022 1,000.00 1.00
15/12/2020 13/04/2021 21/04/2021 1,000.00 1.00
09/12/2019 05/04/2020 13/04/2020 850.00 0.85
10/12/2018 07/04/2019 15/04/2019 850.00 0.85
11/12/2017 09/04/2018 17/04/2018 750.00 0.75
06/12/2016 26/03/2017 04/04/2017 720.00 0.72
14/12/2015 03/04/2016 12/04/2016 690.00 0.69
28/12/2014 05/04/2015 12/04/2015 600.00 0.60
29/12/2013 02/04/2014 09/04/2014 600.00 0.60
19/01/2013 02/04/2013 10/04/2013 500.00 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 2.85 48.00 5.94 %
Last 5 Financial years 4.45 54.79 8.12 %
Last 10 Financial years 7.56 22.65 33.38 %
Based on the beginning of the period (January 1 of the base year)

Historical Dividends

55.30
0.20 0.36 %

Valuation Data (Latest Share Price)

P/E (TTM) 24.54
P/E Before Unusual Items (TTM) 24.54
P/BV 2.98
Dividend Yield 1.79 %
Market Cap. (M) 55,300.00
Return on Average Assets 6.32 %
Return on Average Equity 12.50 %

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