Saudi Paper’s shareholders to vote on capital hike, dividend distribution on April 25

Saudi Paper inks SAR 300M deal with Italian company to buy sixth production line

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.

Dividend Details (Q3 2023)
Current Capital	SAR 337.0 mln
Number of Shares	33.70 mln
Total Dividend	SAR 16.85 mln
Percentage of Capital	5% (SAR 0.5 a share)
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
Payment Date	Later

Capital Increase Highlights
Current Capital	SAR 337.0 mln
Number of Shares	33.70 mln
Percentage Increase	10% (1 bonus share per each 10 shares held)
New Capital After Increase	SAR 370.70 mln
New Number of Shares	37.07 mln
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
Reason	Part of the company’s goals for strengthening its capital base, future growth, and shareholder returns
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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