Retal shareholders approve 10-for-1 stock split, 30% cash dividend for H2 2022

Logo of Retal Urban Development Co.

Shareholders of Retal Urban Development Co. approved on May 2 the board’s recommendation of a stock split from SAR 10 to SAR 1, according to a statement to Tadawul.

Accordingly, the total number of shares will increase to 400 million from 40 million shares.

The division decision will be effective for all shareholders on the day of the extraordinary general meeting (EGM) and those registered with Securities Depository Center (Edaa) at the end of the second trading day following the EGM, during which the stock split is approved.

The share price and the number of shares in shareholders’ portfolios will be adjusted at the end of the second trading day following the EGM.

In a separate statement, Saudi Exchange (Tadawul) said Retal’s daily trading fluctuation limit will be based today, May 3, on a share price of SAR 12.22 and the outstanding orders will be canceled.

The Securities Depository Center (Edaa) will deposit the split shares into investor portfolios by May 7.

Meanwhile, Retal shareholders also approved the board recommendation on a 30% cash dividend for the second half of 2022, at SAR 3 per share, the statement said.