Aldrees Petroleum and Transport Services Co.’s shareholders are set to vote on a 20 percent capital hike to SAR 600 million from SAR 500 million through bonus shares during the extraordinary general assembly meeting on March 18, the company said in a statement on Tadawul.
The capital hike will be financed through capitalizing SAR 29.05 million from retained earnings account and SAR 70.95 million from statutory deposit.
Shareholders will also vote on a 10 percent cash dividend at SAR 1 per share for the fiscal year 2018.
|
Key Figures of the Capital hike |
|
|
Current Capital |
SAR 500 mln |
|
Number of shares |
50 mln shares |
|
Increase (%) |
20% (1 for every 5 shares) |
|
New Capital |
SAR 600 mln |
|
New number of shares |
60 mln shares |
|
Record date |
March 18, 2019 |
|
Deriver |
To match capital with business size and future plans |
|
Cash Dividend Details (FY 2018) |
|
|
Total cash dividend |
SAR 50 mln |
|
Percent of capital |
10% (SAR 1 per share) |
|
Record date |
March 18, 2019 |
|
Payment date |
Within 15 days from record date |
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