Arriyadh Development Co.’s (ARDCO) shareholders are set to vote on a 33.33 percent capital hike to SAR 1.33 billion from SAR 1.78 billion through the issue bonus shares on May 2, 2019, the company said in a bourse statement.
Shareholders will also vote on an 8 percent cash dividend for the second half of 2019, at SAR 0.80 per share, amounting to SAR 106.67 million.
|
Key Figures of the Capital Hike |
|
|
Current Capital |
SAR 1.33 bln |
|
Number of shares |
133.33 mln |
|
Hike (%) |
33.33% (1 share for every 3 shares) |
|
New Capital |
SAR 1.78 bln |
|
New number of shares |
177.78 mln |
|
Record date |
General assembly meeting |
|
Driver |
To boost the company’s capital to match its business size and future plans. |
|
Dividend Details (H2 2018) |
|
|
Current Capital |
SAR 1.33 bln |
|
Number of shares |
133.33 mln |
|
Dividend |
SAR 106.67 mln |
|
Percentage of capital |
8% (SAR 0.80 per share) |
|
Record date |
General assembly meeting |
|
Payment date |
To be determined |
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