Lazurde shareholders approve 2.5% cash dividend for 2021, disapprove absolving board from liability

03/07/2022 Argaam Exclusive

Lazurde Company for Jewelry’s shareholders gave the go-ahead for the board’s recommendation to distribute SAR 14.38 million cash dividend at 2.5% of capital, or SAR 0.25 per share, for 2021, during an extraordinary general meeting (EGM) held on June 30, according to a bourse statement.

 

Dividend (2021)  

Current Capital

SAR 575 mln

Number of Shares

57.5 mln

Total Dividends

SAR 14.38 mln

Percentage of Capital

2.5% (SAR 0.25 per share)

Record Date

June 30, 2022 (Including shareholders registered with the Securities Depository Center (Edaa) by the end of the second trading day after the record date)

Payment Date

July 6, 2022

 

Shareholders also approved authorizing the board of directors to distribute interim dividends on a semi-annual or quarterly basis for 2022.

 

Furthermore, they gave the green light for delegating the powers of the ordinary general meeting (OGM) to the board of directors for one year from shareholders’ approval date or until the end of the board term, whichever is earlier.

 

However, shareholders did not approve discharging board members from liability and paying SAR 2.54 million in remuneration for 2021.

 

They appointed auditors to review and audit the company’s financial statements for Q2, Q3 and Q4 2022, as well as Q1 2023.

Dividend History (SAR/share) Corporate Actions

Announcement Ex-Dividend Payment Dividends
(M Riyal)
Dividends * Notes
17/03/2022 30/06/2022 06/07/2022 14.38 0.25
23/03/2017 10/04/2017 24/04/2017 21.50 0.43
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 0.55 14.39 3.82 %
Last 5 Financial years 0.55 16.43 3.35 %
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

13.40
(0.06) (0.45 %)

Valuation Data (Latest Share Price)

P/E (TTM) 63.38
P/E Before Unusual Items (TTM) 63.38
P/BV 2.56
Dividend Yield 2.11 %
Market Cap. (M) 770.50
Return on Average Assets 0.70 %
Return on Average Equity 3.60 %

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