National Shipping Company of Saudi Arabia’s (Bahri) shareholders are set to vote on increasing capital from SAR 4.92 billion to SAR 7.38 billion via a 50% bonus issue (one bonus share for every two shares held), during the extraordinary general assembly meeting (EGM) slated for June 19, according to a statement to Tadawul.
In addition, they will vote on a board recommendation for a cash dividend payment at 5%, or SAR 0.5 a share, for 2022.
Meanwhile, shareholders will authorize the board of directors to distribute dividends for 2023 on a quarterly or semi-annual basis. The maturity date will be determined in accordance with the Implementing Regulation of the Companies Law for Listed Joint Stock Companies, and the company's financial position, cash flows, expansion and investment plans.
|
Cash Dividend |
|
|
Current Capital |
SAR 4.92 bln |
|
No. of Shares |
492.2 mln |
|
Total Dividend |
SAR 246.1 mln |
|
Percentage of Capital |
5% (SAR 0.5 a share) |
|
Record Date |
June 19, 2023, including shareholders registered with Edaa on the second trading day following the record date |
|
Payment Date |
July 16, 2023 |
|
Details of Capital Top-Up – Bonus Issue |
|
|
Current Capital |
SAR 4.92 bln |
|
Number of Shares |
492.2 mln |
|
Percentage of Capital |
50% (One bonus share for every two shares held) |
|
New Capital |
SAR 7.38 bln |
|
No. of Shares |
738.3 mln |
|
Purpose |
Strengthening the company's capital base in line with its expansion and growth plans, in addition to creating higher value in the long term via investments in a number of available opportunities. |
|
Method |
Capitalizing SAR 351.75 mln from statutory reserve and SAR 2.11 bln from retained earnings. |
| Announcement | Ex-Dividend | Payment | Dividends (M Riyal) | Dividends * | Notes |
| 15/03/2023 | 19/06/2023 | 16/07/2023 | 246.09 | 0.33 | |
| 21/09/2021 | 05/10/2021 | 24/10/2021 | 393.75 | 0.53 | |
| 28/01/2021 | 26/04/2021 | 09/05/2021 | 393.75 | 0.53 | |
| 21/09/2020 | 05/10/2020 | 22/10/2020 | 393.75 | 0.53 | |
| 20/01/2020 | 20/04/2020 | 10/05/2020 | 393.75 | 0.53 | |
| 29/09/2019 | 13/10/2019 | 31/10/2019 | 196.88 | 0.27 | |
| 11/12/2018 | 14/04/2019 | 28/04/2019 | 590.63 | 0.80 | |
| 14/12/2017 | 17/04/2018 | 03/05/2018 | 590.63 | 0.80 | |
| 18/12/2016 | 16/01/2017 | 31/01/2017 | 984.38 | 1.33 | |
| 24/12/2015 | 06/04/2016 | 21/04/2016 | 984.38 | 1.33 |
| 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 | 1.93 | 20.92 | 9.24 % |
| Last 5 Financial years | 3.53 | 16.66 | 21.21 % |
| Last 10 Financial years | 8.60 | 10.40 | 82.66 % |
| P/E (TTM) | 10.04 |
| P/E Before Unusual Items (TTM) | 11.84 |
| P/BV | 1.60 |
| Dividend Yield | 2.49 % |
| Market Cap. (M) | 21,040.98 |
| Return on Average Assets | 8.65 % |
| Return on Average Equity | 17.06 % |
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