Logo of Saudi Investment Bank (SAIB)
Shareholders of The Saudi Investment Bank (SAIB) will vote on the board’s recommendation on the distribution of one bonus share for every four shares held to raise capital by 25% during the extraordinary general meeting (EGM) scheduled for April 30.
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Capital Increase Highlights |
|
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Current Capital |
SAR 10 bln |
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Current Number of Shares |
1 bln |
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Capital Increase (%) |
25% |
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New Capital |
SAR 12.5 bln |
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New Number of Shares |
1.25 bln |
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Nature & Value of Reserve |
Capitalizing SAR 2.5 bln of statutory reserve |
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Eligibility |
April 30, 2024 (Shareholders of record, and those registered with Edaa on the second trading day following the record date) |
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Reason |
Strengthening the bank’s capital base, to boost growth rates and expand its business in the coming years |
The announced cash dividend does not include bonus shares, SAIB said in a statement to Tadawul.
Other agenda items include authorizing the board of directors to pay semi-annual or quarterly dividend for 2024.
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