Al-Etihad Insurance board recommends 12.5% capital hike via bonus issue

03/03/2022 Argaam Exclusive

Al-Etihad Cooperative Insurance Co.'s board of directors recommended today, March 3, increasing capital by 12.5% to SAR 450 million from SAR 400 million, through a bonus issue (one share for each eight shares), according to a bourse fling.

 

Capital Increase Details

Current capital

SAR 400 mln

Number of shares

40 mln

Capital hike%

12.5% (one share for every 8 shares held)

Capital after increase

SAR 450 mln

Number of shares after increase

45 mln

Objective of capital hike

To strengthen the company’s capital base and support its future activities

Record date

Shareholders registered with the Edaa by the end of second trading day after record date.

Method of increase

By transferring SAR 20 million from retained earnings and SAR 30 million from the statutory reserve.
 
In the case of any fractional bonus shares, these will be collected into one investment portfolio and will then be sold at market price within 30 days from the date of determining the allocation of new shares to each shareholder, the company added.
 

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

 

Dividend History (SAR/share) Corporate Actions

Announcement Ex-Dividend Payment Dividends
(M Riyal)		 Dividends * Notes
Data not available
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 N/A 15.34 N/A
Last 5 Financial years N/A 10.96 N/A
Last 10 Financial years N/A 11.66 N/A
Based on the beginning of the period (January 1 of the base year)

Historical Dividends

Al-Etihad Cooperative Insurance Co.
20.52
0.08 0.39 %

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Valuation Data (Latest Share Price)

P/E (TTM) 10.94
P/E Before Unusual Items (TTM) 10.94
P/BV 1.37
Dividend Yield 3.26 %
Market Cap. (M) 923.40
Return on Average Assets 4.98 %
Return on Average Equity 13.38 %

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