Foods Gate OKs 10% dividend, 50% capital hike via bonus issue

Logo of Foods Gate Trading Co.

Foods Gate Trading Co.’s shareholders approved the board recommendation to distribute a cash dividend at 10% of capital, or SAR 1 per share, for 2024, according to a statement to Tadawul. The dividend details are as follows:

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Shareholders further approved the board’s recommendation to increase the company’s capital by 50% through a bonus share issue. This will be done by capitalizing SAR 10.5 million from retained earnings, granting one bonus share for every two shares owned. The details are as follows:

Shareholders further ratified the transfer of the statutory reserve balance of SAR 4.94 million (as per the financial statements dated Dec.31, 2024) to the retained earnings balance of SAR 26.56 million, the statement added.

The Saudi Exchange (Tadawul) announced that fluctuation limits for Foods Gate Trading Co. will be based on a share price of SAR 40.00 and the outstanding orders will be canceled. Furthermore, the Securities Depository Center (Edaa) will deposit the addition shares into shareholder portfolios as of Sunday, June 29.