‎SAIC board ups proposed cash dividend for 2023 to 10%

20/03/2024
Argaam Exclusive

Saudi Advanced Industries Co.’s (SAIC) board raised its dividend distribution proposal for 2023 to 10% (SAR 1 per share), instead of the 7.5% (SAR 0.75 per share) formerly recommended on March 16, according to a Tadawul statement today, March 20.

Dividend Details (2023)

Current Capital

SAR 600 mln

Number of Shares*

60 mln

Total Dividends

SAR 59 mln

Percentage of Capital

10% (SAR 1/share)

Record Date

Shareholders registered with Edaa by the end of the second trading day following the general assembly date

Payment Date

To be announced later

*The number of eligible shares is 59 million

This is in addition to amending the recommendation to distribute additional cash dividends for 2023 at SAR 0.25 per share, or equal to the share in the distribution of Obeikan Glass Co., due to the difficulty of distributing Obeikan Glass shares to shareholders who are not eligible for trading in the Nomu-Parallel Market.

SAIC’s board of directors also cancelled its recommendation, issued on March 16, to distribute part of its share in Obeikan Glass.

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

2.13

15.25

13.94 %

Last 5 Financial years

2.54

10.61

23.96 %

Last 10 Financial years

3.53

13.48

26.16 %

Based on the beginning of the period (January 1 of the base year)

Valuation Data (Latest Share Price)

P/E (TTM)
15.63

P/E Before Unusual Items (TTM)

12.52

P/BV
2.34

Dividend Yield
3.43 %

Market Cap. (M)

2,325.00

Return on Average Assets
15.03 %

Return on Average Equity
15.69 %

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