Al Moammar board recommends 25% bonus issue, 11% cash dividend for H2 2020

04/01/2021 Argaam Exclusive

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Al Moammar Information Systems Co.'s (MIS) board of directors recommended a 25% capital increase to SAR 250 million through issuing one bonus share for every 4 shares held, the company said in a bourse statement. It also recommended distributing 11% cash dividend for the second half of 2020, at SAR 1.1 per share, amounting to SAR 22 million.

 

Details of Capital Increase

Current Capital

SAR 200 mln

Number of shares

20 mln shares

Capital hike percentage

25% (one share for every 4 shares held)

Capital after increase

SAR 250 mln

Number of shares after increase

25 mln shares

Record date

Shareholders owning the shares on record date in the register of shareholders at Edaa by the end of second trading day after record date.

Objective of capital hike

To boost the company's capital to cope with future expansions and goals.

Dividend Details (H2 2020)

Dividend

SAR 22 mln

Percentage of capital

11 % (equivalent to SAR1 per share)

Record date

January 7, 2021

Payment date

January 20, 2021

Dividend Details (2020)

Dividend

SAR 42 mln

Percentage of capital

21 % (equivalent to SAR 2.1 per share)
 

Share fractions will be reoffered to shareholders pro rata within 30 days maximum of share allocation.

The capital increase is subject to the approval of the competent authorities as well as MIS extraordinary general meeting (EGM).

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Al Moammar Information Systems Co.
144.80
(0.40) (0.28 %)

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Valuation Data (Latest Share Price)

P/E (TTM) 46.08
P/E Before Unusual Items (TTM) 75.25
P/BV 11.13
Dividend Yield 1.96 %
Market Cap. (M) 4,335.00
Return on Average Assets 3.57 %
Return on Average Equity 23.32 %

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