Arabian Cement General Assembly approved 25% capital raise (from SAR 800 m to SAR 1000m) in a meeting held today.
The Capital raise is to take place by issuing one bonus share to each 4 shares owned by registered shareholders.
By this issuance the number of outstanding shares will increase from 80 m shares to 100 m.
The GA also approved 17.5% cash dividends for H2 of 2013 as shown in the following table:
|
Capital raise details |
|
|
SAR 800 mn |
Current capital |
|
80 mn shares |
Number of shares |
|
25% ( 1/4 shares) |
Capital raise (%) |
|
SAR 1000 mn |
New capital |
|
100 mn shares |
# of Shares after raise |
|
April, 01, 2014 |
Record date |
|
Cash dividends details |
|
|
SAR 800 mn |
Current capital |
|
80 mn shares |
Number of shares |
|
SAR 140 mn |
H2 dividends |
|
17.5% ( SAR 1.75/share) |
% of capital |
|
April, 01, 2014 |
Record date |
|
April, 17, 2014 |
Payment date |
|
2013 cash dividends |
|
|
SAR 240 mn |
Dividends |
|
30% (SAR 3/share) |
% of capital |
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