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SAIB board proposes 1-for-4 bonus issue, 4.5% dividend
AI Summary
Content Summary: 
The Saudi Investment Bank’s (SAIB) board of directors recommended on Feb. 15 the distribution of one bonus share for every four shares held to raise capital by capitalizing part of its statutory reserve.
In two separate statements to Tadawul, SAIB said that the board also proposed a 4.5% cash dividend, at SAR 0.45 per share, for the second half of 2023.
|
Capital Increase Highlights |
|
|
Current Capital |
SAR 10 bln |
|
Number of shares |
1 bln |
|
Capital increase (%) |
25% |
|
New Capital |
SAR 12.5 bln |
|
New Number of Shares |
1.25 bln |
|
Nature & Value of Reserve |
Capitalizing SAR 2.5 bln of retained earnings |
|
Eligibility |
Shareholders registered with Edaa on the second trading day following the extraordinary general meeting (EGM), the date for which will be determined later |
|
Reason |
Strengthening the bank’s financial solvency and utilizing its resources for operating activities |
|
Dividend Details (H2 2023) |
|
|
Current Capital |
SAR 10 bln |
|
Number of Dividend-Eligible Shares |
1 bln |
|
Total Dividend |
SAR 450 mln |
|
Percentage of Capital |
4.5% (SAR 0.45 per share after Zakat) |
|
Record Date |
Feb. 25, 2024 (Shareholders registered with Edaa by the close of the second trading session following the record date) |
|
Payment Date |
March 6, 2024 |
|
Total Dividends (2023) |
|
|
Total dividends |
SAR 850 mln |
|
Percentage of capital |
8.5% (SAR 0.85 a share after Zakat deduction) |
Fractional shares, if any, will be collected in one portfolio for all shareholders and sold at market price. Their value will be distributed among the eligible shareholders, on a pro rata basis, within 30 days maximum from the date of determining the new shares eligible for each shareholder.
The bonus share distribution is subject to the approval of the competent authorities as well as the bank’s shareholders.
The bank added that it obtained the Saudi Central Bank's (SAMA) approval on H2 2023 dividends.
Dividend History (SAR/share) Corporate Actions
| Announcement | Ex-Dividend | Payment | Dividends (M Riyal) | Dividends * | Notes |
| 18/02/2024 | 25/02/2024 | 06/03/2024 | 450.00 | 0.36 | |
| 30/07/2023 | 03/08/2023 | 15/08/2023 | 400.00 | 0.32 | |
| 25/12/2022 | 10/04/2023 | 30/04/2023 | 450.00 | 0.36 | |
| 24/07/2022 | 31/07/2022 | 14/08/2022 | 300.00 | 0.24 | |
| 22/12/2021 | 01/02/2022 | 10/02/2022 | 525.00 | 0.42 | |
| 04/03/2021 | 21/04/2021 | 02/05/2021 | 270.00 | 0.22 | |
| 14/02/2018 | 24/04/2018 | 01/05/2018 | 450.00 | 0.36 | |
| 06/12/2016 | 17/04/2017 | 20/04/2017 | 350.00 | 0.28 | |
| 13/12/2015 | 04/04/2016 | 07/04/2016 | 487.50 | 0.39 | |
| 04/12/2014 | 08/03/2015 | 10/03/2015 | 480.00 | 0.38 |
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 | 1.70 | 9.57 | 17.77 % |
| Last 5 Financial years | 1.92 | 10.29 | 18.62 % |
| Last 10 Financial years | 3.33 | 13.89 | 23.98 % |
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Valuation Data (Latest Share Price)
| P/E (TTM) | 7.95 |
| P/E Before Unusual Items (TTM) | 7.95 |
| P/BV | 0.99 |
| Dividend Yield | 5.23 % |
| Market Cap. (M) | 16,250.00 |
| Return on Average Assets | 1.25 % |
| Return on Average Equity | 12.71 % |
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