Alinma Bank shareholders approve 1-for-4 bonus issue

Logo of Alinma Bank

Alinma Bank’s shareholders approved, on April 23, the board of directors’ recommendation to increase capital by 25% by issuing one bonus share for every four shares held via capitalizing part of retained earnings.

 

Capital Increase Details

Current Capital

SAR 20 bln

Number of Shares

2 bln

Capital increase (%)

25%

New Capital

SAR 25 bln

Number of Shares after Increase

2.5 bln

Method

Distribution of one bonus share for every four shares held

Nature and Value of Reserve

Capitalizing SAR 5 billion from retained earnings

Record date

April 23, 2024, for shareholders registered with Edaa on the second trading day following the record date.

Reason

Strengthening the bank’s financial position to achieve its strategic objectives
 

The shareholders also approved authorizing the board to distribute interim dividends on a quarterly or semi-annual basis for 2024, in addition to determining record and distribution dates, according to a statement to Tadawul.

 

Fluctuation limits will be based on a share price of SAR 33.60 today, April 24, 2024, and the outstanding orders will be cancelled.

 

The Securities Depository Center (Edaa) will add the bonus shares to shareholder portfolios before the start of trading on April 28. 

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2024, Argaam Investment, All Rights Reserved
Call Request