Arab National Bank’s (ANB) board of directors has recommended a 50 percent capital hike to SAR 15 billion from SAR 10 billion through the issue of one bonus share for every two shares held, the bank said in a statement on Tadawul.
The board has also recommended an 8.5 percent cash dividend for the second half of 2018, at SAR 0.85 per share, amounting to SAR 850 million.
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Key Figures of the Capital hike |
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Current Capital |
SAR 10 bln |
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Number of shares |
1 bln shares |
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Increase (%) |
50% (1 for every 2 shares) |
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New Capital |
SAR 15 bln |
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New number of shares |
1.5 bln shares |
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Record date |
General assembly meeting (Q1 2019) |
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Method |
Capitalizing SAR 2 bln from retained earnings account and SAR 3 bln from statutory deposit. |
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Cash Dividend Details (H2 2018) |
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Total cash dividend |
SAR 850 mln |
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Percent of capital |
8.5% (SAR 0.85 per share) |
|
Record date |
General assembly meeting (Q1 2019) |
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Payment date |
To be determined |
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Dividend for FY 2018 |
|
|
Total dividend |
SAR 1.5 bln |
|
Percentage of capital |
15% (SAR 1.5/share) |
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