United International Transportation Co. (Budget Saudi) said it approved on Tuesday 20 percent capital raise from SAR 508.3 million to SAR 610.0 million through the issuance of one bonus share for every five shares.
The company also approved a 30 percent cash dividend to be issued at the rate of SAR 1.5 per share for the fiscal year 2015.
The company said the capital hike will help it implement plans laid out in 2012 and support future expansion plans.
|
Capital Increase Details |
|
|
SAR 508.3 mln |
Current capital |
|
50.83 mln shares |
Number of shares |
|
20% |
Increase (%) |
|
SAR 610.0 mln |
Post increase capital |
|
61.0 mln shares |
Post-increase shares |
|
Day of general gssembly |
Record date |
|
2015 Cash Dividend Details |
|
|
SAR 76.25 mln |
Cash dividend |
|
15% ( SAR 1.5/share) |
Percent of capital |
|
Day of general assembly |
Record date |
|
To be determined |
Payment day |