Aldrees Petroleum and Transport Services Co.’s shareholders are set to vote on a 20 percent capital hike to SAR 600 million from SAR 500 million through bonus shares during the extraordinary general assembly meeting on March 18, the company said in a statement on Tadawul.
The capital hike will be financed through capitalizing SAR 29.05 million from retained earnings account and SAR 70.95 million from statutory deposit.
Shareholders will also vote on a 10 percent cash dividend at SAR 1 per share for the fiscal year 2018.
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Key Figures of the Capital hike |
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Current Capital |
SAR 500 mln |
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Number of shares |
50 mln shares |
|
Increase (%) |
20% (1 for every 5 shares) |
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New Capital |
SAR 600 mln |
|
New number of shares |
60 mln shares |
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Record date |
March 18, 2019 |
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Deriver |
To match capital with business size and future plans |
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Cash Dividend Details (FY 2018) |
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Total cash dividend |
SAR 50 mln |
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Percent of capital |
10% (SAR 1 per share) |
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Record date |
March 18, 2019 |
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Payment date |
Within 15 days from record date |
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