Shareholders of Alinma Bank approved the board's recommendation on a capital increase from SAR 15 billion to SAR 20 billion through a 1-for-3 bonus issue. The capital top-up will be financed through the capitalization of SAR 5 billion from reserves and retained earnings, the company said in a bourse statement.
Shareholders also authorized the board of directors to pay interim dividend on a semi-annual basis for FY 2020.
Details of Capital Hike - bonus issue
SAR 15 bln
Number of shares
1.5 bln shares
33.33% (1 share for every 3 outstanding shares)
SAR 20 bln
Number of shares after capital hike
April 8, 2020
Capital hike reason
To help boost growth rates
Capital Hike method
Capitalization of SAR 5 billion from reserves and retained earnings