Almarai shareholders approve 10% cash dividend for 2023

03/04/2024 Argaam Exclusive

Almarai Co.’s shareholders approved the board recommendation to distribute cash dividends at 10%, or SAR 1 a share, for 2023, during the extraordinary general meeting (EGM) held on April 2, according to a statement to Tadawul.

 

2023 Dividend Details

Current Capital

SAR 10 bln 

Number of Shares

1 bln

Total Dividend

SAR 1 bln

Percentage of Capital

10% (SAR 1 a share)

Record Date

April 2, 2024

Date of Payment

April 16, 2024

 

Shareholders also approved the buyback of up to 10 million shares to be allocated for the employee incentive program. The share repurchase will be financed from internal resources, the statement added.

 

Shareholders also authorized the board to finalize the repurchase within a maximum of 12 months from the EGM date and the company will retain the shares for up to seven years from the date of EGM approval until they are allocated to eligible employees.

 

After this period, the company will follow the procedures set out in the relevant laws and regulations.

Dividend History (SAR/share) Corporate Actions

Announcement Ex-Dividend Payment Dividends
(M Riyal)
Dividends * Notes
20/12/2023 02/04/2024 16/04/2024 1,000.00 1.00
20/12/2022 11/04/2023 17/04/2023 1,000.00 1.00
16/12/2021 12/04/2022 20/04/2022 1,000.00 1.00
15/12/2020 13/04/2021 21/04/2021 1,000.00 1.00
09/12/2019 05/04/2020 13/04/2020 850.00 0.85
10/12/2018 07/04/2019 15/04/2019 850.00 0.85
11/12/2017 09/04/2018 17/04/2018 750.00 0.75
06/12/2016 26/03/2017 04/04/2017 720.00 0.72
14/12/2015 03/04/2016 12/04/2016 690.00 0.69
28/12/2014 05/04/2015 12/04/2015 600.00 0.60
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 3.00 54.00 5.56 %
Last 5 Financial years 4.85 48.00 10.10 %
Last 10 Financial years 8.46 31.88 26.54 %
Based on the beginning of the period (January 1 of the base year)

Historical Dividends

55.30
0.20 0.36 %

Valuation Data (Latest Share Price)

P/E (TTM) 24.54
P/E Before Unusual Items (TTM) 24.54
P/BV 2.98
Dividend Yield 1.79 %
Market Cap. (M) 55,300.00
Return on Average Assets 6.32 %
Return on Average Equity 12.50 %

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