Southern Cement OKs 6.5% cash dividend for H2 2023

21/05/2024 Argaam Exclusive

Southern Province Cement Co.’s shareholders approved the board’s recommendation to distribute cash dividends at 6.5% of capital, or SAR 0.65 a share, for H2 2023, during the ordinary general meeting (OGM), held on May 20, the company said in a statement to Tadawul.

 

Shareholders further approved authorizing the board of directors to distribute interim dividends on a semi-annual basis for 2024, the statement added.

 

Cash Dividends (H2 2023) 

Current Capital

SAR 1.4 bln

Number of Shares

140 mln

Total Dividends

SAR 91 mln

Percentage of Capital

6.5% (SAR 0.65 a share)

Record Date

May 20, 2024 shareholders of record and those registered with Edaa for the second trading day following the record date

Payment Date

May 29, 2024

 

Total Dividends for 2023

Total Dividends

SAR 140 mln

Percentage of Capital

10% (SAR 1 a share)

Dividend History (SAR/share) Corporate Actions

Announcement Ex-Dividend Payment Dividends
(M Riyal)
Dividends * Notes
14/03/2024 20/05/2024 29/05/2024 91.00 0.65
31/08/2023 03/09/2023 17/09/2023 49.00 0.35
28/03/2023 30/05/2023 11/06/2023 70.00 0.50
08/09/2022 14/09/2022 26/09/2022 105.00 0.75
03/03/2022 12/04/2022 24/04/2022 175.00 1.25
29/07/2021 10/08/2021 22/08/2021 175.00 1.25
03/03/2021 11/04/2021 25/04/2021 350.00 2.50
23/07/2020 09/08/2020 23/08/2020 315.00 2.25
05/03/2020 05/04/2020 19/04/2020 315.00 2.25
05/08/2019 30/09/2019 06/10/2019 175.00 1.25
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 4.75 83.70 5.68 %
Last 5 Financial years 13.00 37.15 34.99 %
Last 10 Financial years 32.25 110.50 29.19 %
Based on the beginning of the period (January 1 of the base year)

Historical Dividends

Valuation Data (Latest Share Price)

P/E (TTM) 21.26
P/E Before Unusual Items (TTM) 23.03
P/BV 1.43
Dividend Yield 2.35 %
Market Cap. (M) 4,662.00
Return on Average Assets 5.39 %
Return on Average Equity 6.77 %

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