ARDCO shareholders approve capital hike, dividend
Arriyadh Development Co.’s (ARDCO) shareholders approved a 33.33 percent capital hike to SAR 1.33 billion from SAR 1.78 billion through the issue bonus shares, the company said in a bourse statement.
Shareholders have also approved an 8 percent cash dividend for the second half of 2019, at SAR 0.80 per share, amounting to SAR 106.67 million.
Meanwhile, they have elected members of the board of directors for the upcoming term starting on June 25, 2019.
The new board includes Tarek bin Abdulaziz Al-Fares, Ali Abdullah Al Hassoun, Abdulkarim Hamad Al Nujaidi, Majed Nasser Alsubeaei, Ali Bin Abdulaziz Al-Khudairi, Fahad Abdullah Abdel Aziz Al-Qasim and Mansour Bin Abdullah Bin Issa Al Zeer.
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Key Figures of the Capital Hike |
|
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Current Capital |
SAR 1.33 bln |
|
Number of shares |
133.33 mln |
|
Hike (%) |
33.33% (1 share for every 3 shares) |
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New Capital |
SAR 1.78 bln |
|
New number of shares |
177.78 mln |
|
Record date |
May 2, 2019 |
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Driver |
To boost the company’s capital to match its business size and future plans. |
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Dividend Details (H2 2018) |
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|
Current Capital |
SAR 1.33 bln |
|
Number of shares |
133.33 mln |
|
Dividend |
SAR 106.67 mln |
|
Percentage of capital |
8% (SAR 0.80 per share) |
|
Record date |
May 2, 2019 |
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Payment date |
Within 15 days from record date |
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Dividend (FY 2018) |
|
|
Dividend |
SAR 173.33 mln |
|
Percentage of capital |
13% (SAR 1.3 per share) |
