Arab National Bank’s (ANB) board of directors has recommended a 50 percent capital hike to SAR 15 billion from SAR 10 billion through the issue of one bonus share for every two shares held, the bank said in a statement on Tadawul.

 

The board has also recommended an 8.5 percent cash dividend for the second half of 2018, at SAR 0.85 per share, amounting to SAR 850 million.

 

Key Figures of the Capital hike

Current Capital

SAR 10 bln

Number of shares

1 bln shares

Increase (%)

50% (1 for every 2 shares)

New Capital

SAR 15 bln

New number of shares

1.5 bln shares

Record date

General assembly meeting (Q1 2019)

Method

Capitalizing SAR 2 bln from retained earnings account and SAR 3 bln from statutory deposit.

Cash Dividend Details (H2 2018)

Total cash dividend

SAR 850 mln

Percent of capital

8.5% (SAR 0.85 per share)

Record date

General assembly meeting (Q1 2019)

Payment date

To be determined

Dividend for FY 2018

Total dividend

SAR 1.5 bln

Percentage of capital

15% (SAR 1.5/share)

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