Advanced Petrochemical Co.’s board of directors has recommended a 10 percent capital hike to SAR 2.16 billion from SAR 1.97 billion through the issue bonus shares.
The capital hike aims to match the company’s capital and assets and support future plans.
The process is pending approval from the general assembly and regulator.
Meanwhile, Advanced recommended a 7 percent cash dividend for the second quarter of 2019, at SAR 0.70 per share, amounting to SAR 137.8 million.
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Key Figures of the Capital Hike |
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Current Capital |
SAR 1.97 bln |
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Number of shares |
196.79 mln |
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Hike (%) |
10% (1 share for every 10 shares) |
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New Capital |
SAR 2.16 bln |
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New number of shares |
216.47 mln |
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Record date |
General assembly meeting |
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Driver |
to match the company’s capital and assets and support future plans. |
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Dividend Details (Q2 2019) |
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Dividend |
SAR 137.8 mln |
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Percentage of capital |
7% (SAR 0.70 per share) |
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Record date |
June 30, 2019 |
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Payment date |
To be determined |
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Dividend for H1 2019 |
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Total dividend |
SAR 275.6 mln |
|
Percentage of capital |
14% (SAR 1.4/share) |
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