BSF shareholders OK 10% dividend for H2 2023, 2.86M share buyback

23/05/2024 Argaam Exclusive

Banque Saudi Fransi’s (BSF) shareholders approved the board’s recommendation to pay a cash dividend at 10% of capital, or SAR 1 a share, for H2 2023, during the extraordinary general meeting (EGM), held on May 22, according to a statement to Tadawul.

 

Cash Dividends Details

Current Capital

SAR 12.05 bln

Number of Shares*

1.2 bln

Total Dividends

SAR 1.19 bln

Percentage of Capital

10% or SAR 1 a share, post-Zakat deduction

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 11, 2024

 

(2023) Dividends Total

 

Total Dividends

SAR 2.33 bln

Percentage of Capital

19.5% (SAR 1.95 a share)

*Shares eligible for dividends are 1.19 bln

Shareholders also authorized the board to pay an interim dividend on a semi-annual or quarterly basis, for 2024.

 

They further endorsed the employee share plan (share-based employee remuneration plan), while authorizing the board to approve any related future amendments.

 

In addition, shareholders approved a share buyback of a maximum of 2.86 million shares to be allocated to the bank’s share-based employee remuneration plans. The repurchase will be financed through the bank's own resources, and the board of directors will be authorized to complete the repurchase process within a maximum period of 12 months.

 

from the date of the EGM decision. The repurchased shares will be retained for a period not exceeding 10 years from the EGM date until they are allocated to the eligible employees. Once the said period lapses, the bank shall follow the rules and procedures stipulated in the relevant laws and regulations.

Dividend History (SAR/share) Corporate Actions

Announcement Ex-Dividend Payment Dividends
(M Riyal)
Dividends * Notes
06/02/2024 22/05/2024 11/06/2024 1,197.74 1.00
26/07/2023 03/08/2023 20/08/2023 1,139.52 0.95
13/12/2022 24/05/2023 12/06/2023 1,079.63 0.90
30/06/2022 21/07/2022 04/08/2022 900.64 0.75
23/12/2021 12/06/2022 30/06/2022 1,019.96 0.85
04/07/2021 11/07/2021 05/08/2021 779.97 0.65
02/03/2021 05/05/2021 31/05/2021 479.98 0.40
30/12/2019 13/05/2020 08/06/2020 1,199.68 1.00
03/07/2019 11/07/2019 29/07/2019 1,199.69 1.00
27/12/2018 01/05/2019 16/05/2019 959.49 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 5.10 31.60 16.14 %
Last 5 Financial years 7.49 31.10 24.08 %
Last 10 Financial years 13.62 26.40 51.60 %
Based on the beginning of the period (January 1 of the base year)

Historical Dividends

31.05
(0.15) (0.48 %)

Valuation Data (Latest Share Price)

P/E (TTM) 8.80
P/E Before Unusual Items (TTM) 8.80
P/BV 0.98
Dividend Yield 4.85 %
Market Cap. (M) 37,427.67
Return on Average Assets 1.58 %
Return on Average Equity 11.75 %

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