Al Rajhi Bank’s shareholders have approved a 53.8 percent capital hike to SAR 25 billion from SAR 16.25 billion during the extraordinary general assembly meeting held on Wednesday, April 3, 2019.
The capital hike aims to boost the bank’s resources which assist in achieving good growth rates.
Meanwhile, they approved 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.
In a separate statement, the Saudi Stock Exchange (Tadawul) said that fluctuation limit for Al Rajhi after capital hike will be based on a share price of SAR 71.80 on Thursday, April 4.
Meanwhile, the Securities Depository Center (Edaa) will deposit the addition shares into the investor’s portfolios by Monday, April 8, 2019.
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.
Dividend Details (H2 2018)
SAR 3.656 bln
Percentage of capital
22.5% (SAR 2.25 per share)
April 11, 2019
Dividend for FY 2018
SAR 6.906 bln
42.5% (SAR 4.25/share)
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