Logo of Bank AlJazira
Bank AlJazira’s shareholders approved, on April 24, distributing one bonus share for every four shares held to increase the company’s capital by 25% through capitalizing part of the statutory reserve, according to a statement to Tadawul.
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Capital Increase Details |
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Current Capital |
SAR 8.2 bln |
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Current Number of shares |
820 mln |
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Capital increase (%) |
25% |
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New Capital |
SAR 10.25 bln |
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New Number of Shares |
1.02 bln |
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Method |
Distributing one bonus share for every four shares held. |
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Nature & Value of Reserve |
Capitalizing SAR 2.05 bln from statutory reserve. |
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Eligibility |
April 24, 2024, including shareholders of record registered with Edaa on the second trading day following the record date. |
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Reason |
Supporting the bank's capital base, thus enabling it to achieve its strategic goals. |
Additionally, the shareholders authorized the board of directors to distribute interim dividends for 2024 on a semiannual or quarterly basis.
In a separate statement, the Saudi Exchange (Tadawul) said that the fluctuation limits on today, April 25, for Bank AlJazira will be based on a share price of SAR 16.18 and the outstanding orders will be canceled.
Furthermore, the Securities Depository Center (Edaa) will deposit the bonus shares into the investors’ portfolios by April 29.
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