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	F Y _ 2023
21/03/2023	19/06/2023	10/07/2023	44.85	1.00	F Y _ 2022
19/04/2022	17/05/2022	31/05/2022	44.85	1.00	FY _ 2021
28/03/2021	27/05/2021	16/06/2021	44.85	1.00	FY 2020
26/01/2020	15/04/2020	23/04/2020	89.70	2.00	FY-2019
24/03/2019	23/04/2019	09/05/2019	44.85	1.00	The General Assembly approved 10% cash dividend for FY-2018
18/02/2018	15/04/2018	22/04/2018	44.85	1.00	The General Assembly approved 10 % cash dividend FY-2017
30/03/2016	27/04/2016	06/06/2016	33.64	0.75	The General Assembly approved 7.5 % cash dividend FY-2016
23/02/2015	09/04/2015	07/05/2015	69.50	1.55	The General Assembly approved 15.5% cash dividends for year 2014
06/02/2014	17/03/2014	26/03/2014	69.50	1.55	The General Assembly approved 15.50% cash dividend for FY2013

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

Valuation Data (Latest Share Price)

P/E (TTM)	26.83
P/E Before Unusual Items (TTM)	30.00
P/BV	4.78
Dividend Yield	1.15 %
Market Cap. (M)	7,364.37
Return on Average Assets	13.26 %
Return on Average Equity	18.69 %

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