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Aldrees shareholders approve capital hike, cash dividend for FY 2018
AI Summary
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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