Alinma Bank shareholders approve 1-for-4 bonus issue

Logo of Alinma Bank

Alinma Bank’s shareholders approved, on April 23, the board of directors’ recommendation to increase capital by 25% by issuing one bonus share for every four shares held via capitalizing part of retained earnings.

Capital Increase Details
Current Capital	SAR 20 bln
Number of Shares	2 bln
Capital increase (%)	25%
New Capital	SAR 25 bln
Number of Shares after Increase	2.5 bln
Method	Distribution of one bonus share for every four shares held
Nature and Value of Reserve	Capitalizing SAR 5 billion from retained earnings
Record date	April 23, 2024, for shareholders registered with Edaa on the second trading day following the record date.
Reason	Strengthening the bank’s financial position to achieve its strategic objectives

The shareholders also approved authorizing the board to distribute interim dividends on a quarterly or semi-annual basis for 2024, in addition to determining record and distribution dates, according to a statement to Tadawul.

Fluctuation limits will be based on a share price of SAR 33.60 today, April 24, 2024, and the outstanding orders will be cancelled.

The Securities Depository Center (Edaa) will add the bonus shares to shareholder portfolios before the start of trading on April 28.

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