Shareholders of Saudi National Bank (SNB) will vote on the board’s recommendation on increasing the bank’s capital by 33.99% to SAR 60 billion through a one-for-three bonus issue during the extraordinary general meeting (EGM) scheduled for May 7.
In a statement to Tadawul today, April 12, SNB said that shareholders will also discuss the board’s proposal for a 6% dividend payout, at SAR 0.6 per share, for the second half of 2022.
|
Capital Increase Details |
|
|
Current capital |
SAR 44.78 bln |
|
Number of shares |
4.478 bln |
|
Percentage of increase |
33.99% (approximately 1 share for every 3 shares held) |
|
Capital after increase |
SAR 60 bln |
|
Shares after increase |
6 bln |
|
Reason |
To strengthen the bank's financial position in order to achieve its strategic objectives |
|
Method |
Through capitalizing SAR 15.22 bln from retained earnings |
|
Record date |
May 7, 2023 (Shareholders of record by the end of trading on the EGM day, which will be announced later, and those registered with Edaa by the end of the second trading day following the EGM) |
|
Dividend Details (H2 2022) |
|
|
Current capital |
SAR 44.78 bln |
|
Dividend |
SAR 2.686 bln |
|
Percentage of capital |
6% (SAR 0.6 per share) |
|
Record date |
May 7, 2023 (Shareholders of record by the end of trading on the EGM day, which will be announced later, and those registered with Edaa by the end of the second trading day following the EGM) |
|
Payment date |
To be announced |
|
Total Dividends (2022) |
|
|
Dividend |
SAR 7.612 bln |
|
Percentage of capital |
17% (SAR 1.7 per share) |
Other agenda items include voting on authorizing the board to distribute interim dividends on a semi-annual or a quarterly basis for 2023.
Shareholders will also discuss the buyback of 10 million shares maximum, to be allocated as treasury shares under the Employee Shares Program. The repurchase will be funded from the bank’s internal resources.
They will also discuss authorizing the board of directors to complete the buyback within 12 months maximum from the date of the EGM's approval, including the allocation price for each share offered to employees.
The repurchased shares will be kept for a period not exceeding 10 years from the date of EGM's approval, after which the bank will follow the procedures stated in the relevant laws and regulations.
| Announcement | Ex-Dividend | Payment | Dividends (M Riyal) | Dividends * | Notes |
| 12/01/2023 | 07/05/2023 | 18/05/2023 | 2,686.80 | 0.45 | |
| 03/07/2022 | 13/07/2022 | 21/07/2022 | 4,925.80 | 0.82 | |
| 27/01/2022 | 17/04/2022 | 26/04/2022 | 4,030.20 | 0.67 | |
| 09/08/2021 | 12/08/2021 | 23/08/2021 | 2,910.70 | 0.49 | |
| 04/04/2021 | 06/05/2021 | 23/05/2021 | 3,582.40 | 0.89 | |
| 26/12/2019 | 31/03/2020 | 09/04/2020 | 3,600.00 | 0.90 | |
| 29/07/2019 | 01/08/2019 | 21/08/2019 | 3,300.00 | 0.82 | |
| 23/12/2018 | 10/04/2019 | 24/04/2019 | 3,288.35 | 0.82 | |
| 30/07/2018 | 02/08/2018 | 12/08/2018 | 2,989.41 | 0.74 | |
| 31/12/2017 | 15/05/2018 | 29/05/2018 | 1,196.88 | 0.30 |
| 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 | 4.43 | 36.31 | 12.21 % |
| Last 5 Financial years | 7.71 | 27.34 | 28.19 % |
| Last 10 Financial years | N/A | N/A | N/A |
| P/E (TTM) | 11.35 |
| P/E Before Unusual Items (TTM) | 11.35 |
| P/BV | 1.38 |
| Dividend Yield | 4.53 % |
| Market Cap. (M) | 227,400.00 |
| Return on Average Assets | 1.96 % |
| Return on Average Equity | 12.58 % |
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