National Agriculture Development Company (Nadec) said it approved on Wednesday a 10 percent capital raise from SAR 700 million to SAR 770 million through the issuance of a bonus share for every 10 shares in an effort to support company’s expansion plans.
Nadec also approved a five percent cash dividend to be issued at SAR 0.5 per share for last year.
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Capital Raise Details |
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SAR 700 mln |
Current capital |
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70 mln shares |
Number of shares |
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10% ( one share for every 10 shares) |
Capital raise percentage |
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SAR 770 mln |
New capital |
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77 mln shares |
Number of Shares after raise |
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March 17, 2015 |
Record date |
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Cash Dividend Details |
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SAR 35 mln |
Cash dividend |
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5% ( SAR 0.5/share) |
Percent of capital |
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March 17, 2015 |
Record date |
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April 15, 2015 |
Payment day |
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