Al-Samaani Factory approves 66.67% capital increase, 5% cash dividend for FY2019
Al-Samaani Factory For Metal Industries Co.'s shareholders approved the board's recommendation on a capital increase by 66.67% from SAR 15 million to SAR 25 million via a bonus share distribution (1:1.5) for FY2019.
This came during the company's extraordinary general meeting (EGM) that was held on June 25.
Shareholders also endorsed paying cash dividend at 5%, or SAR 0.5 a share for FY2019, the company said in a bourse statement.
Details of Capital Hike |
|
Current Capital |
SAR 15 mln |
Number of shares |
1.50 mln shares |
Increase percentage |
66.67% (1 share for every outstanding 1.5 shares) |
New Capital |
SAR 25 mln |
Number of shares after capital hike |
SAR 2.50 mln |
Method |
The capitalization of SAR 10 million of the issue premium |
Capital hike reason |
To improve the company’s solvency and financial position, and to boost growth rates and expansions |
Dividend Details (FY 2019) |
|
Current Capital |
SAR 15 mln |
Number of shares |
1.50 mln |
Dividend |
SAR 0.75 bln |
Percentage of capital |
5% (SAR 0.5 per share) |
Record date |
June 25, 2020 |
Payment date |
To be determined |
Market Indices
Quotes
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments
Be the first to comment