National Agriculture Development Co.’s (NADEC) general assembly approved a 10 percent capital hike to SAR 847 million from SAR 770 million through the issue of 1:10 bonus share.
The hike will be financed through capitalizing SAR 77 million from retained earnings account, the company said in a statement to the Saudi bourse, Tadawul.
The assembly also approved 5 percent cash dividend to be issued at SAR 0.5 per share for the fiscal year 2015.
|
Capital Hike Details (Q4-2015) |
|
|
Current Capital |
SAR 770 mln |
|
Current number of shares |
77 mln |
|
Capital hike percent |
10% (1 share for each 10 shares) |
|
New capital |
SAR 847 mln |
|
New number of shares |
84.7 mln shares |
|
Record date |
April 7, 2016 |
|
Cash Dividend Details 2015 |
|
|
Current Capital |
SAR 770 mln |
|
Cash dividend |
SAR 38.5 mln |
|
Percent capital |
5% (SAR 0.5/share) |
|
Record date |
April 7, 2016 |
|
Payment day |
To be determined later |
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