Abdullah Al Othaim Markets Co.’s extraordinary general assembly approved on Monday a 100 percent capital hike to SAR 900 million from SAR 450 million, through the issue of one bonus share for every share held.
The increase will be implemented through capitalizing SAR 112.5 million from the statutory reserve account and SAR 337.5 million from the retained earnings account, the company said in a statement on Tadawul.
Meanwhile, shareholders also approved a 30 percent cash dividend at SAR 3 per share for the fiscal year 2017.
The company’s board of directors had previously declared a SAR 2 per share cash dividend for H1 2017.
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Key Figures of the Capital hike |
|
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Current Capital |
SAR 450 mln |
|
Number of shares |
45 mln shares |
|
Increase (%) |
100% (1 for every 1 shares) |
|
New Capital |
SAR 900 mln |
|
New number of shares |
90 mln shares |
|
Record date |
April 23, 2018 |
|
Deriver |
To support growth plan and business expansions |
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Cash Dividend Details (FY 2017) |
|
|
Current Capital |
SAR 450 mln |
|
Number of shares |
45 mln shares |
|
Total cash dividend |
SAR 135 mln |
|
Percent of capital |
30% (SAR 3 per share) |
|
Record date |
April 23, 2018 |
|
Payment date |
May 10, 2018 |
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