Petrochem shareholders to vote on 5% dividend for FY19 on April 16

23/03/2020 Argaam Exclusive

National Petrochemical Co.’s (Petrochem) shareholders will vote on April 16 on the board’s recommendation to distribute a 5% cash dividend, or SAR 0.5 per share, for the fiscal year 2019, the firm said in a statement to Tadawul.

Dividend Details (FY 2019)

Current Capital

SAR 4.8 bln

Number of shares

480 mln

Dividend

SAR 240 mln

Percentage of capital

5% (SAR 0.50 per share)

Record date

April 16, 2020

Payment date

To be determined

The general assembly will also vote on the financial results, and the board and auditor’s reports for FY 2019.

 

Shareholders will vote on hiring an auditor from among nominees, discharging board members from liabilities during FY19, in addition to a board remuneration of SAR 1.6 million for the previous fiscal year.

 

They will also vote on authorizing the board of directors to distribute interim dividend on a quarterly or biannual basis for the year 2020.

 

In addition, shareholders will vote on the contracts between Saudi Polymers Company (a subsidiary) and Samba Financial Group, in which Petrochem’s board member, Iyad Al Hussein has an indirect interest, as he is a board member of Samba Financial Group.

 

Saudi Polymers Company obtained a loan of SAR 1.5 billion on March 8, 2020 (extends for 4 years) without preferential terms.

Dividend History (SAR/share) Corporate Actions

Announcement Ex-Dividend Payment Dividends
(M Riyal)		 Dividends * Notes
05/03/2020 16/04/2020 28/04/2020 240.00 0.50
26/02/2019 07/04/2019 16/04/2019 240.00 0.50
08/03/2018 16/04/2018 29/04/2018 240.00 0.50
13/03/2017 17/04/2017 27/04/2017 240.00 0.50
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 1.75 18.37 9.53 %
Last 5 Financial years 2.75 16.52 16.65 %
Last 10 Financial years 2.75 22.15 12.42 %
Based on the beginning of the period (January 1 of the base year)

Historical Dividends

National Petrochemical Co.
45.45
(0.60) (1.30 %)

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Valuation Data (Latest Share Price)

P/E (TTM) 15.96
P/E Before Unusual Items (TTM) 15.96
P/BV 2.39
Dividend Yield -
Market Cap. (M) 21,816.00
Return on Average Assets 15.26 %
Return on Average Equity 15.85 %

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