SAIC board ups proposed cash dividend for 2023 to 10%

20/03/2024 Argaam Exclusive

Saudi Advanced Industries Co.’s (SAIC) board raised its dividend distribution proposal for 2023 to 10% (SAR 1 per share), instead of the 7.5% (SAR 0.75 per share) formerly recommended on March 16, according to a Tadawul statement today, March 20.

 

Dividend Details (2023)

Current Capital

SAR 600 mln

Number of Shares*

60 mln

Total Dividends

SAR 59 mln

Percentage of Capital

10% (SAR 1/share)

Record Date

Shareholders registered with Edaa by the end of the second trading day following the general assembly date

Payment Date

To be announced later

*The number of eligible shares is 59 million

 

This is in addition to amending the recommendation to distribute additional cash dividends for 2023 at SAR 0.25 per share, or equal to the share in the distribution of Obeikan Glass Co., due to the difficulty of distributing Obeikan Glass shares to shareholders who are not eligible for trading in the Nomu-Parallel Market.

 

SAIC's board of directors also cancelled its recommendation, issued on March 16, to distribute part of its share in Obeikan Glass.

 

Dividend History (SAR/share) Corporate Actions

Announcement Ex-Dividend Payment Dividends
(M Riyal)
Dividends * Notes
20/03/2024 11/06/2024 30/06/2024 59.00 1.00
27/03/2023 04/06/2023 19/06/2023 30.00 0.50
13/03/2022 31/05/2022 15/06/2022 37.50 0.63
23/03/2021 23/06/2021 05/07/2021 12.50 0.21
19/08/2020 30/08/2020 15/09/2020 12.50 0.21
30/12/2018 28/02/2019 13/03/2019 12.50 0.21
10/05/2017 05/02/2018 22/02/2018 12.50 0.21
10/05/2017 03/07/2017 19/07/2017 12.50 0.21
23/12/2014 19/04/2015 12/05/2015 21.60 0.36
21/02/2009 05/05/2009 26/05/2009 21.60 0.36
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 2.13 15.25 13.94 %
Last 5 Financial years 2.54 10.61 23.96 %
Last 10 Financial years 3.53 13.48 26.16 %
Based on the beginning of the period (January 1 of the base year)

Historical Dividends

36.90
(0.45) (1.20 %)

Valuation Data (Latest Share Price)

P/E (TTM) 6.88
P/E Before Unusual Items (TTM) 6.80
P/BV 1.81
Dividend Yield 3.43 %
Market Cap. (M) 2,214.00
Return on Average Assets 27.35 %
Return on Average Equity 29.47 %

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