Gulf Insurance Group’s (GIG) board of directors recommended increasing capital by 5% to SAR 525 million through the distribution of one bonus share for every 20 shares held.
In a separate statement to Tadawul, GIG’s board also recommended the payout of a 5% cash dividend, or SAR 0.5 per share, for 2022.
|
Bonus Issue Highlights |
|
|
Current capital |
SAR 500 mln |
|
Number of shares |
50 mln |
|
Percentage of increase |
5% (1-for-20 bonus shares) |
|
New capital |
SAR 525 mln |
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New number of shares |
52.5 mln |
|
Reason |
To support the company’s capital base and future activities |
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Method |
Capitalization of SAR 25 billion from retained earnings |
|
Record date |
Shareholders on the date of EGM, which will approve the capital hike, and who are registered with Edaa by the close of the second trading day following the EGM date, to be announced later |
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Dividend Details (2022) |
|
|
Total dividend |
SAR 25 bln |
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Percentage of capital |
5% |
|
Record date |
Shareholders on the date of EGM, and who are registered with Edaa by the close of the second trading day following the EGM date, to be announced later |
|
Payment date |
To be set later |
Fractional shares, if any, will be collected into a single portfolio to be sold at market price within 30 days, on a pro-rata basis, from the date of determining the allocation of new shares for each shareholder.
The bonus issue is subject to the approval of competent authorities as well as the company’s shareholders, GIG added.
| Announcement | Ex-Dividend | Payment | Dividends (M Riyal) | Dividends * | Notes |
| 17/05/2023 | 18/06/2023 | 04/07/2023 | 25.00 | 0.48 | |
| 17/03/2022 | 15/05/2022 | 02/06/2022 | 50.00 | 0.95 |
| 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 | 2.93 | 33.64 | 8.71 % |
| Last 5 Financial years | 2.93 | 19.55 | 14.98 % |
| Last 10 Financial years | 2.93 | 19.24 | 15.22 % |
| P/E (TTM) | 20.21 |
| P/E Before Unusual Items (TTM) | 20.21 |
| P/BV | 1.44 |
| Dividend Yield | 5.70 % |
| Market Cap. (M) | 1,535.63 |
| Return on Average Assets | 2.63 % |
| Return on Average Equity | 7.32 % |
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