Saudi Aramco’s board of directors recommended increasing capital to SAR 90 billion from SAR 75 billion through the capitalization of SAR 15 billion from retained earnings.
Saudi Aramco will distribute one bonus share for every 10 existing shares.
|
Capital Increase Highlights – Bonus Issue |
|
|
Current capital* |
SAR 75 bln |
|
New capital |
SAR 90 bln |
|
Percentage of increase |
20% |
|
Number of shares** |
220 bln |
|
New number of shares |
242 bln |
|
Bonus issue |
1 share for every 10 existing shares |
|
Reason |
To maximize shareholders’ returns via the distribution of sustainable and progressive dividends, in line with future plans and growth in free cash flows, in addition to creating long-term value through investments in available opportunities |
|
Method |
Capitalization of SAR 15 billion from retained earnings |
*There is no nominal value for Saudi Aramco’s share.
The eligibility of the bonus shares will be for shareholders who own the shares by the close of trading on the extraordinary general meeting (EGM) date, which will be announced later, and who are registered with the Securities Depository Center Co. (Edaa) at the end of the second trading following EGM date.
In case of bonus shares fractions, the world’s largest oil exporter will collect all fractions in one portfolio to be sold at market price. The relevant value will be distributed among the eligible shareholders pro rata within a period of 30 days maximum from the date of determining the eligible shares for each shareholder.
The proposed stock dividend is subject to obtaining necessary approvals from competent authorities and Saudi Aramco’s shareholders on the capital increase and number of shares.
Separately, the board also announced a total cash dividend of SAR 73.15 billion ($19.51 billion) for the fourth quarter of 2022, the company said in a statement to Tadawul.
The dividend was 4% higher quarter-on-quarter. It also aligns with the company’s policy, which aims to pay sustainable and increasing dividends.
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Dividend Details (Q4 2022) |
|
|
Current capital* |
SAR 75 bln |
|
Number of shares** |
220 bln |
|
Total dividend |
SAR 73.15 bln |
|
Dividend per share |
SAR 0.33 per share |
|
Record date |
March 14, 2023 |
|
Payment date |
March 20, 2023 |
|
Total Dividends (2022) |
|
|
Total dividend |
SAR 284.14 bln |
|
Dividend per share |
SAR 1.29 per share) |
*There is no nominal value for Saudi Aramco’s share.
**The number of eligible shares stands at 219.93 bln.
| Announcement | Ex-Dividend | Payment | Dividends (M Riyal) | Dividends * | Notes |
| 12/03/2023 | 14/03/2023 | 20/03/2023 | 73,150.00 | 0.30 | |
| 01/11/2022 | 08/11/2022 | 28/11/2022 | 70,330.00 | 0.29 | |
| 14/08/2022 | 21/08/2022 | 07/09/2022 | 70,330.00 | 0.29 | |
| 15/05/2022 | 23/05/2022 | 08/06/2022 | 70,330.00 | 0.29 | |
| 20/03/2022 | 22/03/2022 | 31/03/2022 | 70,330.00 | 0.29 | |
| 31/10/2021 | 04/11/2021 | 22/11/2021 | 70,328.07 | 0.29 | |
| 08/08/2021 | 15/08/2021 | 01/09/2021 | 70,327.08 | 0.29 | |
| 04/05/2021 | 10/05/2021 | 02/06/2021 | 70,325.33 | 0.29 | |
| 21/03/2021 | 22/03/2021 | 31/03/2021 | 70,324.78 | 0.29 | |
| 03/11/2020 | 09/11/2020 | 30/11/2020 | 70,318.77 | 0.29 |
| 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 | 4.03 | 28.81 | 13.99 % |
| Last 5 Financial years | 6.33 | 29.10 | 21.74 % |
| Last 10 Financial years | N/A | N/A | N/A |
| P/E (TTM) | 15.67 |
| P/E Before Unusual Items (TTM) | 15.58 |
| P/BV | 4.51 |
| Dividend Yield | 5.13 % |
| Market Cap. (M) | 6,872,800.00 |
| Return on Average Assets | 17.68 % |
| Return on Average Equity | 29.09 % |
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