City Cement plant
City Cement Co.’s board of directors recommended on May 21 to withhold dividends for H2 2024. 
The decision aims to support its financial position until the completion of the acquisition deal, the company said in a statement toTadawul.
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The recommendation will be submitted for approval in the upcoming shareholder meeting.
City Cement last paid dividend for H1 2024 at 5% (SAR 0.5 per share), data compiled byArgaamshowed.
Last October, City Cement and Umm Al-Qura Cement Co. (UACC) signed a share-swap agreement, under which the latter will offer to acquire all UACC shares in exchange for newly-issued shares in City Cement.
The table below highlights the acquisition details:
Acquisition Details
Acquisition Method
City Cement to acquire all shares of UACC
Compensation Method
Issuing new shares for UACC shareholders
Share Swap Ratio
1.11 new shares in City Cement for each share of UACC
Resulting Entity
City Cement Co.
UACC Post-Acquisition
Its shares will be delisted from Tadawul, and it will become a wholly owned subsidiary of City Cement
City Cement Pre-Acquisition Capital
SAR 1.40 bln
Capital Increase Value
SAR 611.64 mln
New shares issued
61.16 mln
City Cement Post-Acquisition Capital
SAR 2.01 bln
Capital Increase Percentage
43.69%
UACC Stock Valuation
SAR 20.06
City Cement Stock Valuation
SAR 18.04
Total Valuation of UACC Share Capital
SAR 1.10 bln
UACC Shareholders’ Stake in New Entity
30.40%
City Cement Shareholders’ Stake in New Entity
69.60%
City Cement plant
City Cement Co.’s board of directors recommended on May 21 to withhold dividends for H2 2024.
The decision aims to support its financial position until the completion of the acquisition deal, the company said in a statement toTadawul.
For more news on listed companies
The recommendation will be submitted for approval in the upcoming shareholder meeting.
City Cement last paid dividend for H1 2024 at 5% (SAR 0.5 per share), data compiled byArgaamshowed.
Last October, City Cement and Umm Al-Qura Cement Co. (UACC) signed a share-swap agreement, under which the latter will offer to acquire all UACC shares in exchange for newly-issued shares in City Cement.
The table below highlights the acquisition details:
Acquisition Details
Acquisition Method
City Cement to acquire all shares of UACC
Compensation Method
Issuing new shares for UACC shareholders
Share Swap Ratio
1.11 new shares in City Cement for each share of UACC
Resulting Entity
City Cement Co.
UACC Post-Acquisition
Its shares will be delisted from Tadawul, and it will become a wholly owned subsidiary of City Cement
City Cement Pre-Acquisition Capital
SAR 1.40 bln
Capital Increase Value
SAR 611.64 mln
New shares issued
61.16 mln
City Cement Post-Acquisition Capital
SAR 2.01 bln
Capital Increase Percentage
43.69%
UACC Stock Valuation
SAR 20.06
City Cement Stock Valuation
SAR 18.04
Total Valuation of UACC Share Capital
SAR 1.10 bln
UACC Shareholders’ Stake in New Entity
30.40%
City Cement Shareholders’ Stake in New Entity
69.60%
