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 |
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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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