Aldrees Petroleum and Transport Services Co.’s shareholders approved on Monday a 20 percent capital hike to SAR 600 million from SAR 500 million through bonus shares, 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 have also approved a 10 percent cash dividend at SAR 1 per share for the fiscal year 2018, the statement added.

 

 In a separate statement, Saudi Stock Exchange (Tadawul) said that the fluctuation limits on Tuesday for Aldrees will be based on a share price of SAR 28.75. The Securities Depository Center (Edaa) will deposit the additional shares into the investors’ portfolios by Thursday March 21, 2019.

 

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

April 2, 2019

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