AI Summary
Logo of Foods Gate Trading Co.
Foods Gate Trading Co.’s shareholders approved the board recommendation to distribute a cash dividend at 10% of capital, or SAR 1 per share, for 2024, according to a statement to Tadawul. The dividend details are as follows:
|
Dividend Details (2024) |
|
|
Current Capital |
SAR 21 million |
|
Number of Shares: |
2.1 mln |
|
Total Dividends |
SAR 2.1 mln |
|
Percentage of Capital |
10% (SAR 1 a share) |
|
Record Date |
June 24, 2025 shareholders of record and those registered with Edaa on the second trading day following the record date |
|
Payment Date |
July 6, 2025 |
For more news on listed companies
Shareholders further approved the board’s recommendation to increase the company’s capital by 50% through a bonus share issue. This will be done by capitalizing SAR 10.5 million from retained earnings, granting one bonus share for every two shares owned. The details are as follows:
|
Capital Increase Details |
|
|
Current Capital |
SAR 21 mln |
|
Number of Shares |
2.1 mln |
|
Nominal Value per Share |
SAR 10 |
|
Proposed Increase |
50% (One bonus share for every two existing shares) |
|
Method |
Capitalizing SAR 10.5 mln from retained earnings |
|
New Capital |
SAR 31.5 mln |
|
Number of Shares |
3.15 mln |
|
Reason |
To finance the company’s operating and investment expansion projects, enhance its ability to achieve strategic goals, improve operational efficiency, and ensure sustainable growth and added value for shareholders. |
|
Record Date |
June 24, 2025 shareholders of record and those registered with Edaa on the second trading day following the record date |
Shareholders further ratified the transfer of the statutory reserve balance of SAR 4.94 million (as per the financial statements dated Dec.31, 2024) to the retained earnings balance of SAR 26.56 million, the statement added.
The Saudi Exchange (Tadawul) announced that fluctuation limits for Foods Gate Trading Co. will be based on a share price of SAR 40.00 and the outstanding orders will be canceled. Furthermore, the Securities Depository Center (Edaa) will deposit the addition shares into shareholder portfolios as of Sunday, June 29.
Be the first to comment
Comments Analysis: