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Al-Modawat shareholders to vote on 70% cash dividend for 2023, stock split on June 9
AI Summary
Logo of Al-Modawat Specialized Medical Co.
Al-Modawat Specialized Medical Co.’s shareholders will vote on the distribution of dividends from retained earnings at 70% of capital (SAR 7 per share) for 2023, during an extraordinary general meeting to be held on June 9, according to a statement to Tadawul.
|
Dividend Details (2023) |
|
|
Current Capital |
SAR 23.8 mln |
|
Current Number of Shares |
2.38 mln |
|
Share Par Value |
SAR 10 |
|
Total Dividend |
SAR 16.6 mln |
|
Percentage of Capital |
70% (SAR 7 per share) |
|
Record Date |
To shareholders of record and those registered with the Securities Depository Center Co. (Edaa) on the second trading day after the record date |
|
Payment Date |
To be announced later |
Shareholders will also vote on reducing the stock par value from SAR 10 to SAR 1, while keeping capital unchanged following the stock split.
|
Stock Split Details |
|
|
Current Capital |
SAR 23.75 mln |
|
Current Number of Shares |
2.37 mln |
|
Current Share Par Value |
SAR 10 |
|
New Capital |
SAR 23.75 mln |
|
New Number of Shares |
23.75 mln |
|
Par Value After Stock Split |
SAR 1 per share |
Other agenda items include authorizing the board to distribute interim dividends on a semi-annual or quarterly basis for 2024. This is besides voting on the board's proposal to redefine the use of the IPO proceeds, amounting to SAR 50.23 million, to be fully utilized in financing working capital.
Shareholders will also elect board members for the upcoming three-year term, ending on June 8, 2027.
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