Astra’s EGM approves 25% dividend for 2023

25/06/2024 Argaam Exclusive

Shareholders of Astra Industrial Group approved a cash dividend at 25% of capital, or SAR 2.5 a share, for 2023, during the extraordinary general meeting (EGM) held on June 24, according to a statement to Tadawul.  

 

 

Dividends Details

Current Capital

SAR 800 mln

Number of Shares

80 mln

Total Dividends

SAR 200 mln

Percentage

25% (SAR 2.5 a share)

Record Date

June 24, 2024 (shareholders of record and those registered with Edaa on the second trading day following the record date)

Payment Date

June 30, 2024

 

The board of directors was also authorized to distribute quarterly or semi-annual dividends for 2024.

 

Shareholders also approved transferring the statutory reserve balance of SAR 406.7 million, as of Dec. 31, 2023, to retained earnings.

 

Moreover, they greenlit the employee share incentive plan and authorized the board to set the terms of this plan, including the allocation price for each share offered to employees if any.

 

The company will also buy back 300,000 shares, of 0.375% of the total, maximum to retain as treasury shares and allocate them to the employees share incentive plan.

 

The repurchase process will be financed through the company’s own resources and/or using credit facilities. The board of directors will be authorized to complete the process within a maximum period of 12 months from the EGM date. The company may retain the treasury shares for a maximum period of 10 years from the date of the EGM decision, and after the expiry of this period, the company will follow the procedures stipulated in the relevant laws and regulations.

Dividend History (SAR/share) Corporate Actions

Announcement Ex-Dividend Payment Dividends
(M Riyal)
Dividends * Notes
27/03/2024 24/06/2024 30/06/2024 200.00 2.50
16/03/2023 28/05/2023 04/06/2023 200.00 2.50
16/03/2022 21/04/2022 28/04/2022 120.00 1.50
11/03/2021 11/04/2021 20/04/2021 60.00 0.75
28/03/2018 17/05/2018 07/06/2018 40.00 0.50
19/03/2017 16/05/2017 06/06/2017 40.00 0.50
10/03/2015 28/04/2015 18/05/2015 55.60 0.70
26/02/2014 29/04/2014 14/05/2014 129.70 1.62
23/02/2013 22/04/2013 14/05/2013 129.70 1.62
19/02/2012 28/05/2012 13/06/2012 129.70 1.62
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 6.50 25.00 26.00 %
Last 5 Financial years 7.25 16.18 44.81 %
Last 10 Financial years 8.95 48.15 18.58 %
Based on the beginning of the period (January 1 of the base year)

Historical Dividends

165.00
(3.60) (2.14 %)

Valuation Data (Latest Share Price)

P/E (TTM) 22.29
P/E Before Unusual Items (TTM) 24.30
P/BV 5.53
Dividend Yield 1.88 %
Market Cap. (M) 13,200.00
Return on Average Assets 13.08 %
Return on Average Equity 27.04 %

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