Budget’s board recommends 25% capital raise and 17% cash dividend

19/01/2015 Argaam

United International Transportation Company’s (Budget) board of directors recommended a 25 percent capital raise from SAR 406.6 million to SAR 508.3 million through the issuance of bonus shares (one share for every four shares). The board also recommended a 17 percent cash dividend (SAR 1.7/ share) for 2014, as shown below.

 

Capital Rise Details

SAR 406.6mln

Current capital

40.6 mln shares

Number of shares

25%

Capital raise percentage

SAR 508.3 mln

New capital

50.8 mln shares

Number of Shares after raise

General Assembly day

Record date

Cash Dividend Details

SAR 69.1 mln

Cash dividend

17% ( SAR 1.7/share)

Percent of capital

General Assembly day

Record date

Determined later

Payment date
 

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