National Agriculture Development Company (Nadec) said it approved on Wednesday a 10 percent capital raise from SAR 700 million to SAR 770 million through the issuance of a bonus share for every 10 shares in an effort to support company’s expansion plans.

 

Nadec also approved a five percent cash dividend to be issued at SAR 0.5 per share for last year.

 

Capital Raise Details

SAR 700 mln

Current capital

70 mln shares

Number of shares

10% ( one share for every 10 shares)

Capital raise percentage

SAR 770 mln

New capital

77 mln shares

Number of Shares after raise

March 17, 2015

Record date

Cash Dividend Details

SAR 35 mln

  Cash dividend

5% ( SAR 0.5/share)

Percent of capital

March 17, 2015

Record date

April 15, 2015

Payment day
     
 

 

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