By: Thabet Shehata
Riyadh – Mubasher: Investors on the Saudi Stock Exchange (Tadawul) are expecting cash dividends worth SAR 379 million ($101 million) in the first week of May, added to bonus shares worth SAR 1.77 billion ($472 million), bringing total expected dividends to SAR 2.15 billion ($573 million).
A total of 24 listed firms are scheduled to hold their ordinary general meetings (OGMs) over the week, of which seven are to discuss dividends for FY15 and H2-15, according to statistics by Mubasher.
Saudi Hollandi Bank's OGM will discuss dividends of SAR 0.25 per share on 2 May, the statistics revealed, adding that the bank's total dividends will reach SAR 142.88 million ($38.09 million), representing 2.5% of the bank's capital.
In addition, the bank's investors expect a bonus share distribution representing 100% of capital, at a 1-for-1 ratio, totalling SAR 1.67 billion.
Saudi Hollandi's total dividend distribution alone will account for around 84% of total anticipated dividends during the week, making it the highest on the market, according to Mubasher's statistics.
Investors in United International Transportation, which commonly trades under the name "Budget Saudi Arabia", are expecting the second highest dividend payout during the week. The company is scheduled to hold its OGM on 5 May and discuss cash dividends of SAR 1.5 per share, totalling SAR 76.25 million ($20.33 million).
Furthermore, Budget's shareholders will discuss a bonus share distribution representing 20% of capital, at a 1-for-5 bonus issue, totalling SAR 101.67 million ($27.11 million). Accordingly, total dividends to be distributed for Budget will reach SAR 178 million ($47.45 million), and represent around 8% of total distributions on Tadawul.
Finally, Dallah Healthcare Holding is expected to distribute dividends representing 15% of capital, or SAR 1.5 a share, totalling SAR 88.5 million ($23.59 million).
Translated by: Nada Adel Sobhi
