The Extraordinary General Assembly of Al Rajhi Bank, Saudi Arabia's largest listed bank, approved 8% capital raise (from SAR 15000m to SAR 16250 m) in a meeting held today in Riyadh.

The Capital raise is to take place by issuing one bonus share to each 12 shares owned by registered shareholders.

By this issuance the number of outstanding shares will increase from 1500 m shares to 1625 m.

It also approved 10% cash dividends for H2 of 2013.

 

Capital raise details

SAR 15000 mn

Current capital

1500mn shares

Number of shares

8% ( 1/12 shares)

Capital raise (%)

SAR 16250 mn

New capital

1625 mn shares

# of Shares after raise

April, 14, 2014

Record date

H2 2013 cash dividends

SAR 1500 mn

Cash dividends

10% ( SAR 1/share)

% of capital

April, 14, 2014

Record date

Determined later

Payment date

2013 dividends

SAR 3750 mn

Dividends

25% (SAR 2.5/share)

% of capital
 

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