Care shareholders approve 20% dividend for 2023

23/05/2024 Argaam Exclusive
National Medical Care Co.’s (Care) shareholders approved the board’s recommendation to distribute cash dividends at 20% of capital, or SAR 2 a share, for 2023, during the extraordinary general meeting (EGM) held on May 22, according to a statement to Tadawul.

 

Cash Dividends Details

Current Capital

SAR 448.50 mln  

Number of Shares

44.85 mln

Total Dividends

SAR 89.70 mln

Percentage of Capital

20% or SAR 2 a share

Record Date

May 22, 2024 (Shareholders of record and those registered with Edaa on the second trading day following the record date)

Payment Date

June 12, 2024
 

They also approved transferring the statutory reserve of SAR 186.02 million, as per financial statements for 2023, to retained earnings account, the statement added.

 

Shareholders further endorsed the employee stock program while authorizing the board to determine the relevant terms, including the allocation price for each offered share if it is for a fee.

 

Additionally, they approved the buyback of a maximum of 160,000 shares, to be allocated to the employee stock program, provided that the repurchase will be financed from the company’s own resources.

 

The board will be authorized to finalize the repurchase process within a maximum period of 12 months from the EGM date and the repurchased shares will be retained for a period not exceeding 10 years from the EGM date. After this period expires, the company follows the procedures stipulated in the relevant laws and regulations.

Dividend History (SAR/share) Corporate Actions

Announcement Ex-Dividend Payment Dividends
(M Riyal)		 Dividends * Notes
22/04/2024 22/05/2024 12/06/2024 89.70 2.00
21/03/2023 19/06/2023 10/07/2023 44.85 1.00
19/04/2022 17/05/2022 31/05/2022 44.85 1.00
28/03/2021 27/05/2021 16/06/2021 44.85 1.00
26/01/2020 15/04/2020 23/04/2020 89.70 2.00
24/03/2019 23/04/2019 09/05/2019 44.85 1.00
18/02/2018 15/04/2018 22/04/2018 44.85 1.00
30/03/2016 27/04/2016 06/06/2016 33.64 0.75
23/02/2015 09/04/2015 07/05/2015 69.50 1.55
06/02/2014 17/03/2014 26/03/2014 69.50 1.55
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 4.00 51.30 7.80 %
Last 5 Financial years 7.00 50.10 13.97 %
Last 10 Financial years 11.30 54.50 20.73 %
Based on the beginning of the period (January 1 of the base year)

Historical Dividends

National Medical Care Co.
197.00
1.20 0.61 %

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Valuation Data (Latest Share Price)

P/E (TTM) 30.72
P/E Before Unusual Items (TTM) 34.16
P/BV 5.86
Dividend Yield 1.15 %
Market Cap. (M) 8,835.45
Return on Average Assets 14.20 %
Return on Average Equity 20.33 %

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