Al Rajhi Bank’s board of directors has recommended a 53.8 percent capital hike to SAR 25 billion from SAR 16.25 billion through the issue of bonus shares.
The capital hike aims to boost the bank’s resources which assist in achieving good growth rates.
The process is pending approval from the general assembly and regulator.
Meanwhile, the bank recommended a 22.5 percent cash dividend at SAR 2.25 per share for the second half of 2018 amounting to SAR 3.656 billion.
In 2014, Al Rajhi hiked its capital to SAR 16.25 billion from SAR 15 billion through bonus shares, Argaam reported.
Key Figures of the Capital Hike
SAR 16.25 bln
Number of shares
1.625 bln shares
53.8% (7 shares for every 13 shares)
SAR 25 bln
New number of shares
2.5 bln shares
Capitalizing SAR 8.75 bln from retained earnings
General assembly meeting
To boost the bank’s resources which assist in achieving good growth rates.
Dividend Details (H2 2018)
SAR 3.656 bln
Percentage of capital
22.5% (SAR 2.25 per share)
General Assembly meeting (H1 2019)
To be determined
Dividend for FY 2018
SAR 6.906 bln
42.5% (SAR 4.25/share)
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