AI Summary
The Saudi Investment Bank’s (SAIB) approved on Monday increasing capital by 7.7 percent from SAR 6.5 billion to SAR 7 billion through the issuance of one bonus share for every 13 shares held.
The bank also gave the go-ahead for a 7.5 percent cash dividend to be issued at SAR 0.75 per share for the fiscal year 2015.
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Capital Raise Details |
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Current capital |
SAR 6.5 bln |
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Number of shares |
650 mln shares |
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Capital raise percentage |
7.7% (1 share for every 13 shares) |
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New capital |
SAR 7 bln |
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Number of shares after raise |
700 mln shares |
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Record date |
April 4, 2016 |
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Cash Dividend Details (2015) |
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Cash dividend |
SAR 487.5 mln |
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Percent capital |
7.5% (SAR 0.75/share) |
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Record date |
April 4, 2016 |
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Payment day |
April 7, 2016 |
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