The Saudi British Bank (SABB) said it approved on Wednesday a 50 percent capital raise from SAR 10 billion to SAR 15 billion through the issuance of one bonus share for every two shares.
The bank also gave the go-ahead for a 10.5 percent cash dividend to be issued at SAR 1.05 per share for 2014.
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Capital Raise Details |
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SAR 10 bln |
Current capital |
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1,000 mln shares |
Number of shares |
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50% (one share for every two) |
Capital raise percentage |
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SAR 15 bln |
New capital |
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1,500 mln shares |
Number of Shares after raise |
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March 11, 2015 |
Record date |
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Cash Dividend Details |
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SAR 1,050 mln |
Cash dividend |
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10.5% (SAR 1.05/share) |
Percent of capital |
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March 11, 2015 |
Record date |
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March 18, 2015 |
Payment day |
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