Aldrees shareholders to vote on 1-for-3 bonus issue, 10% dividend for 2023 on May 5

31/03/2024 Argaam Exclusive

Aldrees Petroleum and Transport Services Co.’s shareholders are set to vote on distributing cash dividends, at SAR 1 per share or 10% of the capital for 2023, during the extraordinary general meeting (EGM) that will be held on May 5.

 

Shareholders also will vote on a 33.33% capital increase, through distributing one bonus share for every three shares owned, 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 May 5, 2024, and those registered with the Securities Depository Center Co. (Edaa) at the end of the second trading day following this date.

Payment Date 

May 20, 2024

 

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

Shareholders of record on May 5, 2024 and those registered with the Securities Depository Center Co. (Edaa) at the end of the second trading day following this date.

Reason

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

Method

Capitalization from retained earnings

 

Fraction shares will be collected in one portfolio and sold at market price within 30 days from finishing allocating the new shares to each shareholder.

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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