Arriyadh Development Co.’s (ARDCO) shareholders are set to vote on a 33.33 percent capital hike to SAR 1.33 billion from SAR 1.78 billion through the issue bonus shares on May 2, 2019, the company said in a bourse statement.
Shareholders will also vote on an 8 percent cash dividend for the second half of 2019, at SAR 0.80 per share, amounting to SAR 106.67 million.
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Key Figures of the Capital Hike |
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Current Capital |
SAR 1.33 bln |
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Number of shares |
133.33 mln |
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Hike (%) |
33.33% (1 share for every 3 shares) |
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New Capital |
SAR 1.78 bln |
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New number of shares |
177.78 mln |
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Record date |
General assembly meeting |
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Driver |
To boost the company’s capital to match its business size and future plans. |
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Dividend Details (H2 2018) |
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Current Capital |
SAR 1.33 bln |
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Number of shares |
133.33 mln |
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Dividend |
SAR 106.67 mln |
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Percentage of capital |
8% (SAR 0.80 per share) |
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Record date |
General assembly meeting |
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Payment date |
To be determined |
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