Zahrat Al Waha shareholders approve 50% bonus issue, 15% cash dividend for 2021

10/05/2022 Argaam Exclusive

Zahrat Al Waha for Trading Co.’s shareholders approved increasing the company's capital by 50%, through 1-for-2 bonus share distribution, to SAR 225 million, during the extraordinary general meeting (EGM) held on May 9.

 

They also approved a 15% cash dividend, or SAR 1.5 per share, for 2021, the company said in a bourse filing.

 

Details of Bonus Issue

Current capital

SAR 150 mln

Number of shares

15 mln

Capital increase %

50% (one share for every two shares held)

Capital after increase

SAR 225 mln

Number of shares after increase

22.5 mln

Objective of increase

Enhancing the company's financial solvency and strengthen its capital to match the size of its business and its future aspirations.

Method of increase

Capitalizing SAR 75 million from retained earnings

 

Dividend Details (2021)

Current capital

SAR 150 mln

Number of shares

15 mln

Dividend

SAR 22.5 mln

Percentage of capital

15% (SAR 1.5 per share)

Record date

May 9 (Shareholders registered with Edaa by the close of the second trading day following the record date)

Payment date

To be announced later

 

The shareholders also authorized the board of directors to distribute interim dividends on a semi-annual or a quarterly basis for 2022.

 

In a separate statement, the Saudi Exchange (Tadawul) announced that today, May 10, the fluctuation limits for Zahrat Al Waha will be based on a share price of SAR 59.80 and the outstanding orders will be canceled.

 

Meanwhile, the Securities Depository Center (Edaa) will deposit the additional shares into the investor’s portfolios by May 12.

Dividend History (SAR/share) Corporate Actions

Announcement Ex-Dividend Payment Dividends
(M Riyal)
Dividends * Notes
15/11/2021 09/05/2022 26/05/2022 22.50 1.00
25/02/2021 26/04/2021 01/06/2021 15.00 0.67
27/02/2020 19/04/2020 10/05/2020 11.25 0.50
24/10/2019 21/11/2019 02/12/2019 11.25 0.50
19/03/2019 19/05/2019 13/06/2019 15.00 0.67
27/02/2018 22/04/2018 06/05/2018 15.00 0.67
31/12/2015 - 31/12/2015 15.46 0.69
31/12/2014 - 31/12/2014 8.36 0.37
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 2.27 31.83 7.12 %
Last 5 Financial years 3.93 32.62 12.06 %
Last 10 Financial years N/A N/A N/A
Based on the beginning of the period (January 1 of the base year)

Historical Dividends

33.60
(0.35) (1.03 %)

Valuation Data (Latest Share Price)

P/E (TTM) 32.63
P/E Before Unusual Items (TTM) 31.15
P/BV 2.59
Dividend Yield 3.65 %
Market Cap. (M) 756.00
Return on Average Assets 4.11 %
Return on Average Equity 7.84 %

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