Nomu-listed Al-Samaani Factory for Metal Industries Co. has recommended a 33.3 percent capital hike to SAR 15 million from SAR 11.25 million through the issue of one bonus share for every three shares held.
The capital hike, which will be financed from retained earnings account, aims to reward shareholders through granting bonus shares, which will maintain the required cash levels and support the company's expansion plans.
The board also recommended a 15 percent cash dividend (SAR 1.5 per share) for fiscal year 2017, amounting to SAR 1.69 million.
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Capital Hike Details |
|
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Current capital |
SAR 11.25 mln |
|
Current No. of shares |
1.125 mln |
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Percentage of Increase |
33.33 percent (1-for-3 bonus shares) |
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Post-increase capital |
SAR 1.125 mln |
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Post-increase shares |
1.50 mln |
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Eligibility Date |
General assembly meeting |
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Purpose |
To maintain liquidity & support expansion plans |
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Cash Dividend Details (FY17) |
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Cash dividend |
SAR 1.687 mln |
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Percent capital |
15% (SAR 1.5/share) |
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Record date |
General assembly meeting |
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Payment day |
To be determined |
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