Al Rajhi Bank’s shareholders have approved a 53.8 percent capital hike to SAR 25 billion from SAR 16.25 billion during the extraordinary general assembly meeting held on Wednesday, April 3, 2019.
The capital hike aims to boost the bank’s resources which assist in achieving good growth rates.
Meanwhile, they approved a 22.5 percent cash dividend at SAR 2.25 per share for the second half of 2018 amounting to SAR 3.656 billion.
In 2014, Al Rajhi hiked its capital to SAR 16.25 billion from SAR 15 billion through bonus shares, Argaam reported.
In a separate statement, the Saudi Stock Exchange (Tadawul) said that fluctuation limit for Al Rajhi after capital hike will be based on a share price of SAR 71.80 on Thursday, April 4.
Meanwhile, the Securities Depository Center (Edaa) will deposit the addition shares into the investor’s portfolios by Monday, April 8, 2019.
|
Key Figures of the Capital Hike |
|
|
Current Capital |
SAR 16.25 bln |
|
Number of shares |
1.625 bln shares |
|
Hike (%) |
53.8% (7 shares for every 13 shares) |
|
New Capital |
SAR 25 bln |
|
New number of shares |
2.5 bln shares |
|
Method |
Capitalizing SAR 8.75 bln from retained earnings |
|
Record date |
April 3, 2019 |
|
Driver |
To boost the bank’s resources which assist in achieving good growth rates. |
|
Dividend Details (H2 2018) |
||
|
Current Capital |
SAR 16.25 bln |
|
|
Number of shares |
1.625 bln |
|
|
Dividend |
SAR 3.656 bln |
|
|
Percentage of capital |
22.5% (SAR 2.25 per share) |
|
|
Record date |
April 3, 2019 |
|
|
Payment date |
April 11, 2019 |
|
|
Dividend for FY 2018 |
||
|
Total dividend |
SAR 6.906 bln |
|
|
Percentage of capital |
42.5% (SAR 4.25/share) |
|
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}