Bank AlJazira shareholders OK 25% capital hike via bonus issue

Logo of Bank AlJazira

Bank AlJazira’s shareholders approved, on April 24, distributing one bonus share for every four shares held to increase the company’s capital by 25% through capitalizing part of the statutory reserve, according to a statement to Tadawul.

Capital Increase Details
Current Capital	SAR 8.2 bln
Current Number of shares	820 mln
Capital increase (%)	25%
New Capital	SAR 10.25 bln
New Number of Shares	1.02 bln
Method	Distributing one bonus share for every four shares held.
Nature & Value of Reserve	Capitalizing SAR 2.05 bln from statutory reserve.
Eligibility	April 24, 2024, including shareholders of record registered with Edaa on the second trading day following the record date.
Reason	Supporting the bank's capital base, thus enabling it to achieve its strategic goals.

Additionally, the shareholders authorized the board of directors to distribute interim dividends for 2024 on a semiannual or quarterly basis.

In a separate statement, the Saudi Exchange (Tadawul) said that the fluctuation limits on today, April 25, for Bank AlJazira will be based on a share price of SAR 16.18 and the outstanding orders will be canceled.

Furthermore, the Securities Depository Center (Edaa) will deposit the bonus shares into the investors’ portfolios by April 29.

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