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Maharah board recommends capital hike to SAR 475 mln, 10% cash dividend for H2 2022
AI Summary
Content Summary: 
Maharah Human Resources Co.’s board of directors recommended yesterday, March 6, raising capital by 26.7% from SAR 375 million to SAR 475 million.
The company stated, in a statement on Tadawul, that a total of 7.5 million shares will be distributed to shareholders (One bonus share for every five outstanding shares).
In addition, a total of 2.5 million of the shares earmarked for the capital top-up will be directed to the Long-Term Incentive Program (LTIP), instead of their direct procurement.
The company clarified that the capital rise will be through capitalizing SAR 100 million of retained earnings.
In a separate statement, Maharah stated that the board decided to distribute a 10% cash dividend for the second half of 2022, at SAR 1.00 per share, as follows:
|
Dividend (H2 2022) |
|
|
Current Capital |
SAR 375 mln |
|
Number of Shares |
37.5 mln |
|
Total Dividends |
SAR 37.5 mln |
|
Percentage of Capital |
10% (SAR 1 per share) |
|
Record Date |
March 12, 2023 (For shareholders registered with Edaa at the end of second trading day following the record date) |
|
Payment Date |
March 22, 2023 |
|
Total Dividend (2022) |
|
|
Total Dividend |
SAR 84.38 mln |
|
Percentage of Capital |
22.5% (SAR 2.25 per share) |
|
Capital Increase Details |
|
|
Current Capital |
SAR 375 mln |
|
Number of Shares |
37.5 mln |
|
Percentage of Increase |
26.7% |
|
Capital after Increase |
SAR 475 mln |
|
Number of Shares after Increase |
47.5 mln |
|
Reason |
To strengthen the company’s financial position |
|
Method |
- Distributing 7.5 million shares in a one-for-five bonus share issue - Allocating 2.5 million shares for LTIP |
|
Eligibility |
Shareholders by the end of trading on the day of the extraordinary general meeting (EGM), which will be announced later, and those registered with Edaa by the end of the second trading day following the EGM |
Dividend History (SAR/share) Corporate Actions
| Announcement | Ex-Dividend | Payment | Dividends (M Riyal) | Dividends * | Notes |
| 07/03/2023 | 12/03/2023 | 22/03/2023 | 37.50 | 0.08 | |
| 30/08/2022 | 04/09/2022 | 14/09/2022 | 46.88 | 0.10 | |
| 13/03/2022 | 17/03/2022 | 29/03/2022 | 75.00 | 0.16 | |
| 17/08/2021 | 22/08/2021 | 02/09/2021 | 65.63 | 0.14 | |
| 17/03/2021 | 21/03/2021 | 05/04/2021 | 75.00 | 0.16 | |
| 02/09/2020 | 06/09/2020 | 22/09/2020 | 84.38 | 0.18 | |
| 18/03/2020 | 23/03/2020 | 06/04/2020 | 120.00 | 0.25 | |
| 16/09/2019 | 01/10/2019 | 16/10/2019 | 100.13 | 0.21 |
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 | 0.65 | 5.84 | 11.12 % |
| Last 5 Financial years | 1.45 | 5.99 | 24.16 % |
| Last 10 Financial years | N/A | N/A | N/A |
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Valuation Data (Latest Share Price)
| P/E (TTM) | 32.87 |
| P/E Before Unusual Items (TTM) | 35.02 |
| P/BV | 4.00 |
| Dividend Yield | 2.31 % |
| Market Cap. (M) | 2,579.25 |
| Return on Average Assets | 4.13 % |
| Return on Average Equity | 12.26 % |
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