Al Rajhi shareholders to vote on capital hike, H2 2018 dividend today
Al Rajhi Bank’s shareholders are set to vote on a 53.8 percent capital hike to SAR 25 billion from SAR 16.25 billion during the extraordinary general assembly meeting that will be held today, April 3, 2019.
The capital hike aims to boost the bank’s resources which assist in achieving good growth rates.
Meanwhile, they will vote on 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
April 3, 2019
To boost the bank’s resources which assist in achieving good growth rates.