Arab National Bank’s (ANB) shareholders have approved a 50 percent capital hike to SAR 15 billion from SAR 10 billion through the issue of one bonus share for every two shares held, the bank said in a statement on Tadawul.
Shareholders have also approved an 8.5 percent cash dividend for the second half of 2018, during the extraordinary general assembly meeting held on Wednesday.
Fluctuation limit after capital hike will be based on a share price of SAR 24.74, the Saudi Stock Exchange (Tadawul) said in a separate statement .
Meanwhile, the Securities Depository Center (Edaa) will deposit the addition shares into the investor’s portfolios by Monday, April 1, 2019.
|
Key Figures of the Capital hike |
|
|
Current Capital |
SAR 10 bln |
|
Number of shares |
1 bln shares |
|
Increase (%) |
50% (1 for every 2 shares) |
|
New Capital |
SAR 15 bln |
|
New number of shares |
1.5 bln shares |
|
Record date |
March 27, 2019 |
|
Method |
Capitalizing SAR 2 bln from retained earnings account and SAR 3 bln from statutory deposit |
|
Deriver |
To boost capital base to achieve better future growth rates |
|
Cash Dividend Details (H2 2018) |
|
|
Total cash dividend |
SAR 850 mln |
|
Percent of capital |
8.5% (SAR 0.85 per share) |
|
Record date |
March 27, 2019 |
|
Payment date |
April 8, 2019 |
|
Dividend for FY 2018 |
|
|
Total dividend |
SAR 1.5 bln |
|
Percentage of capital |
15% (SAR 1.5/share) |
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