Riyadh Development board proposes 5% cash dividend for H2 2023

10/03/2024 Argaam Exclusive

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Riyadh Development Co.'s board of directors proposed a 2.5% cash dividend for the second half of 2023, at SAR 0.25 per share, the company said in a Tadawul statement.

 

Meanwhile, the board recommended a special dividend of 2.5% or SAR 0.25 per share, due to the sale of part of the company’s unutilized lands held for sale.

 

Thus, the total dividend distributed for H2 2023 stands at 5% or SAR 0.5 per share.

 

Dividend Details (H2 2023)   

Current Capital  

SAR 1.77 bln 

Number of Shares  

177.78 mln 

Total Dividends  

SAR 88.89 mln 

Percentage of Capital  

5% (SAR 0.50 per share) 

Record Date  

Shareholders of record by the close of trading on the general meeting date and those registered with the Securities Depository Center Co. (Edaa) at the end of the second trading day following the general meeting date

Payment Date  

To be determined

 

Total Dividend (2023)

Total Dividend

SAR 133.33 mln

Percentage of Capital

7.5% (SAR 0.75 a share)
 

The company indicated that the special dividend is in line with its strategy, which aims to balance dividend distribution and sustainable growth.

Dividend History (SAR/share) Corporate Actions

Announcement Ex-Dividend Payment Dividends
(M Riyal)		 Dividends * Notes
10/03/2024 23/04/2024 14/05/2024 88.89 0.50
27/07/2023 10/08/2023 31/08/2023 44.44 0.25
21/03/2023 30/04/2023 18/05/2023 44.44 0.25
29/09/2022 10/10/2022 30/10/2022 44.44 0.25
20/02/2022 12/05/2022 31/05/2022 88.89 0.50
14/07/2021 09/09/2021 30/09/2021 177.78 1.00
11/03/2021 18/04/2021 06/05/2021 115.56 0.65
22/07/2020 13/09/2020 04/10/2020 88.89 0.50
12/03/2020 19/04/2020 06/05/2020 88.89 0.50
17/07/2019 09/09/2019 24/09/2019 71.11 0.40
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 2.75 17.02 16.16 %
Last 5 Financial years 4.80 13.13 36.56 %
Last 10 Financial years 9.45 15.87 59.55 %
Based on the beginning of the period (January 1 of the base year)

Historical Dividends


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Arriyadh Development Co.
28.64
(1.58) (5.23 %)

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Valuation Data (Latest Share Price)

P/E (TTM) 27.743
P/E Before Unusual Items (TTM) 27.122
P/BV 1.68
Dividend Yield 1.31 %
Market Cap. (M) 6,699.78
Return on Average Assets 6.83 %
Return on Average Equity 7.49 %

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