Saudi Aramco shareholders OK 1:10 bonus shares

Logo of Saudi Aramco

Shareholders of Saudi Aramco approved the board’s proposal for increasing capital to SAR 90 billion from SAR 75 billion through the capitalization of SAR 15 billion from retained earnings. The world’s largest oil exporter will distribute one bonus share for every 10 shares held.

Capital Increase Highlights – Bonus Issue
Current capital*	SAR 75 bln
New capital	SAR 90 bln
Percentage of increase	20%
Number of shares**	220 bln
New number of shares	242 bln
Bonus issue	1 share for every 10 shares held
Reason	To maximize shareholders’ returns via the distribution of sustainable and progressive dividends, in line with future aspirations, and growth in free cash flows. It also aims to create long-term value through investments in available opportunities
Record date	May 8, 2023
Method	Capitalization of SAR 15 billion from retained earnings

*There is no par value for Saudi Aramco’s shares.

In a separate statement, the Saudi Exchange (Tadawul) said the daily fluctuation limit of Saudi Aramco’s shares will be based today, May 9, on a price of SAR 32.55, and outstanding orders will be cancelled.

The Securities Depository Center Co. (Edaa) will deposit the bonus shares into investor portfolios before the start of trade on May 11.

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