Logo of Foods Gate Trading Co.
Foods Gate Trading Co.’s board of directors recommended on March 2 to pay a cash dividend at 10%, or SAR 1 a share, for 2024, according to a statement to Tadawul.
|
Dividend Details |
|
|
Current Capital |
SAR 21 mln |
|
Number of Shares |
2.1 mln |
|
Total Dividend |
SAR 2.1 mln |
|
Percentage of Dividend |
10% (SAR 1 a share) |
|
Record Date |
Shareholders of record, and those registered with Edaa on the second trading day following the general meeting date. |
|
Payment Date |
To be determined later |
In a separate statement, the company said that the board also recommended a 50% capital increase from SAR 21 million to SAR 31.5 million through a 1-for-2 bonus share issue.
The SAR 10.5 million increase will be financed through capitalizing a part of the retained earnings.
|
Capital Increase Details |
|
|
Current Capital |
SAR 21 mln |
|
Number of Shares |
2.1 mln |
|
Nominal Value |
SAR 10/share |
|
Percentage of Increase |
50% (1:2 bonus share issue) |
|
Method |
Capitalizing SAR 10.5 mln from retained earnings |
|
New Capital |
SAR 31.5 mln |
|
New Number of Shares |
3.15 mln |
|
Reason |
To fund operational projects and investment expansions to enhance the company’s ability to achieve its strategic objectives and raise the efficiency of its business to ensure sustainable growth and achieve added value for shareholders |
|
Record Date |
Shareholders of record and those registered with Edaa on the second trading day following the record date |
Fractional shares, if any, will be compiled in one portfolio for all shareholders and will be offered at market price. Proceeds will be distributed among entitled shareholders pro rata within 30 days maximum.
Meanwhile, the company’s board also recommended the transfer of the company’s statutory reserve balance, which amounted to SAR 4.9 million as of Dec. 31, 2024, to the retained earnings account, the statement added.
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}