The general assembly of Samba Financial Group approved a 33% capital raise on March 20, 2014, according to a statement on Tadawul.


The capital raise is to take place by issuing one bonus share to each three shares owned by registered shareholders as SAR 300 million of retained earnings will be capitalized.

By this issuance the number of outstanding shares will increase from 900 million shares to 1,200 million shares.

The GA also approved 8.5% cash dividends (SAR 0.85/share) for H2 2013, as shown in the following table:

 

  Cash dividends details

SAR 9000mn

Current capital

900 mn shares

Number of shares

SAR 765 mn

  cash dividends

8.5% ( SAR 0.85/share)

% of capital

March 20, 2014

Record date
 

 

2013’s dividends

SAR 1485mn

Total dividends

16.5% ( SAR 1.65/share)

% of capital
 

Bonus Shares

SAR 9,000 million

Current capital

900 million share

Current Number of Shares

33.3% (One share for each 3 shares)

Bonus shares

SAR 12,000 million

Capital after raise

1,200 million share

Number of Shares after capital raise

March 20, 2014

record date
 

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