Aldrees recommends 1-for-3 bonus issue, 10% cash dividend for 2023

28/01/2024 Argaam Exclusive

Aldrees Petroleum and Transport Services Co.’s board of directors recommended on Jan. 25 distributing cash dividends of SAR 1 per share, or 10% of the capital, for 2023.

 

The board also recommended a 33.33% capital increase, through distributing one bonus share for every three owned shares, according to a statement to Tadawul.

 

Cash Dividend (2023)

Capital 

SAR 750 mln

Number of Shares

75 mln 

Total Dividend 

SAR 75 mln 

Percentage of Capital 

10% (SAR 1 per share) 

Record Date 

Shareholders of record On the general meeting date and those registered with the Securities Depository Center Co. (Edaa) at the end of the second trading day following the general meeting date, which will be set later.

Payment Date 

Will be announced later

 

Bonus Issue Details

Current Capital

SAR 750 mln

Number of Shares

75 mln

Percentage of Increase

33.33% (A 1-for-3 bonus share distribution)

New Capital

SAR 1 bln

New Number of Shares

100 mln

Record Date

At the end of the general meeting date which will be determined later, and those registered with Edaa at the end of the second trading day following the general meeting date.

Reason

To align the company's capital with its business size and future aspirations

Method

Capitalization from retained earnings

Dividend History (SAR/share) Corporate Actions

Announcement Ex-Dividend Payment Dividends
(M Riyal)
Dividends * Notes
28/01/2024 05/05/2024 20/05/2024 75.00 0.75
22/01/2023 01/05/2023 15/05/2023 150.00 1.50
18/01/2022 28/02/2022 14/03/2022 112.50 1.13
19/01/2021 14/04/2021 28/04/2021 60.00 0.60
31/03/2020 28/04/2020 12/05/2020 90.00 0.90
17/01/2019 18/03/2019 02/04/2019 50.00 0.50
18/01/2018 05/03/2018 19/03/2018 50.00 0.50
17/01/2017 12/03/2017 22/03/2017 40.00 0.40
18/01/2016 02/03/2016 28/03/2016 80.00 0.80
18/01/2015 08/03/2015 07/04/2015 80.00 0.80
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 3.38 38.60 8.74 %
Last 5 Financial years 4.88 18.71 26.06 %
Last 10 Financial years 7.88 13.39 58.83 %
Based on the beginning of the period (January 1 of the base year)

Historical Dividends

Valuation Data (Latest Share Price)

P/E (TTM) 38.49
P/E Before Unusual Items (TTM) 38.94
P/BV 8.77
Dividend Yield 0.56 %
Market Cap. (M) 12,200.00
Return on Average Assets 4.12 %
Return on Average Equity 24.78 %

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