Saudi Real Estate Co.’s (Al Akaria) extraordinary general assembly approved a 100 percent capital hike to SAR 2.4 billion from SAR 1.2 billion through the issue of one bonus share for every share held, the company said in a statement on Tadawul.
Shareholders also approved a 5 percent cash dividend at SAR 0.5 per share for the second half of 2017.
During the meeting, they also delegated the board members to distribute dividend for FY 2018 on a quarterly or semiannual basis.
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Key Figures of the Capital hike |
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Current Capital |
SAR 1.2 bln |
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Number of shares |
120 mln shares |
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Increase (%) |
100% (1 for every 1 shares) |
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New Capital |
SAR 2.4 bln |
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New number of shares |
240 mln shares |
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Record date |
June 28, 2018 |
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Deriver |
Matching the company’s capital to its assets to cope with growth plan and business expansions |
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Cash Dividend Details (H2 2017) |
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Total cash dividend |
SAR 60 mln |
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Percent of capital |
5% (SAR 0.5 per share) |
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Record date |
June 28, 2018 |
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Payment date |
To be determined |
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Dividend for FY 2017 |
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Total dividend |
SAR 120 mln |
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Percentage of capital |
10% (SAR 1/share) |
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