Logo of Saudi Paper Manufacturing Co.
Saudi Paper Manufacturing Co.’s shareholders will vote on board of directors' recommendation on a 5% cash dividend (SAR 0.5 per share) for Q3 2023, and a 10% capital hike via bonus shares, during an extraordinary general assembly meeting, to be held on April 25, according to a statement to Tadawul.
In November, 2023, the company’s board recommended a 10% capital hike by way of bonus share distribution and a 5% cash dividend for Q3 2023, Argaam earlier reported.
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Dividend Details (Q3 2023) |
|
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Current Capital |
SAR 337.0 mln |
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Number of Shares |
33.70 mln |
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Total Dividend |
SAR 16.85 mln |
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Percentage of Capital |
5% (SAR 0.5 a share) |
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Record Date |
Shareholders of record and those registered with the Securities Depository Center (Edaa) on the second trading day following the general assembly’s meeting date |
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Payment Date |
Later |
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Capital Increase Highlights |
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Current Capital |
SAR 337.0 mln |
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Number of Shares |
33.70 mln |
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Percentage Increase |
10% (1 bonus share per each 10 shares held) |
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New Capital After Increase |
SAR 370.70 mln |
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New Number of Shares |
37.07 mln |
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Eligibility |
Shareholders of record and those registered with Edaa by the close of the second trading day following the record date, to be announced later |
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Reason |
Part of the company’s goals for strengthening its capital base, future growth, and shareholder returns |
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Method |
Capitalizing SAR 33.7 mln from retained earnings |
Shareholders will also vote on the board of directors’ recommendation to transfer the entire balance of the statutory reserve of SAR 15.34 million as in the financial statements ended Dec. 31, 2023 to retained earnings.
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