Argaam Exclusive

Shareholders of Saudi Arabian Refineries Co. (SARCO) approved the board of directors’ recommendation to distribute a 5% cash dividend, or SAR 0.50 per share, for 2021, during the ordinary general assembly meeting (OGM) held on June 28.

Dividend Details (2021)

Current capital

SAR 150 mln

Number of shares

15 mln


SAR 7.5 mln

Percentage of capital

5% (SAR 0.50 per share)

Record date

June 28 (Shareholders registered with Securities Depository Center Co. (Edaa) at the end of the second trading day following the record date)

Payment date

To be announced later

In a statement to Tadawul, SARCO said shareholders disapproved the appointment of Mohammad Nawaf Al-Harbi (independent) to the board, starting from the date of his appointment on Feb. 3, 2022, to complete the current board term that ends on April 30, 2024. Al-Harbi was appointed to succeed the former member, Ali bin Saleh Khabti. 

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Valuation Data (Latest Share Price)

P/E (TTM) More than 50
P/E Before Unusual Items (TTM)
More than 50
P/BV 2.22
Dividend Yield 0.36 %
Market Cap. (M) 1,372.50
Return on Average Assets 0.94 %
Return on Average Equity 0.95 %