The general assembly of Samba Financial Group approved a 33% capital raise on March 20, 2014, according to a statement on Tadawul.
The capital raise is to take place by issuing one bonus share to each three shares owned by registered shareholders as SAR 300 million of retained earnings will be capitalized.
By this issuance the number of outstanding shares will increase from 900 million shares to 1,200 million shares.
The GA also approved 8.5% cash dividends (SAR 0.85/share) for H2 2013, as shown in the following table:
|
Cash dividends details |
|
|
SAR 9000mn |
Current capital |
|
900 mn shares |
Number of shares |
|
SAR 765 mn |
cash dividends |
|
8.5% ( SAR 0.85/share) |
% of capital |
|
March 20, 2014 |
Record date |
|
2013’s dividends |
|
|
SAR 1485mn |
Total dividends |
|
16.5% ( SAR 1.65/share) |
% of capital |
|
Bonus Shares |
|
|
SAR 9,000 million |
Current capital |
|
900 million share |
Current Number of Shares |
|
33.3% (One share for each 3 shares) |
Bonus shares |
|
SAR 12,000 million |
Capital after raise |
|
1,200 million share |
Number of Shares after capital raise |
|
March 20, 2014 |
record date |
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