Al Rajhi Bank’s shareholders are set to vote on a 53.8 percent capital hike to SAR 25 billion from SAR 16.25 billion during the extraordinary general assembly meeting that will be held today, April 3, 2019.
The capital hike aims to boost the bank’s resources which assist in achieving good growth rates.
Meanwhile, they will vote on a 22.5 percent cash dividend at SAR 2.25 per share for the second half of 2018 amounting to SAR 3.656 billion.
In 2014, Al Rajhi hiked its capital to SAR 16.25 billion from SAR 15 billion through bonus shares, Argaam reported.
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Key Figures of the Capital Hike |
|
|
Current Capital |
SAR 16.25 bln |
|
Number of shares |
1.625 bln shares |
|
Hike (%) |
53.8% (7 shares for every 13 shares) |
|
New Capital |
SAR 25 bln |
|
New number of shares |
2.5 bln shares |
|
Method |
Capitalizing SAR 8.75 bln from retained earnings |
|
Record date |
April 3, 2019 |
|
Driver |
To boost the bank’s resources which assist in achieving good growth rates. |
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Dividend Details (H2 2018) |
|
|
Current Capital |
SAR 16.25 bln |
|
Number of shares |
1.625 bln |
|
Dividend |
SAR 3.656 bln |
|
Percentage of capital |
22.5% (SAR 2.25 per share) |
|
Record date |
April 3, 2019 |
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Payment date |
April 11, 2019 |
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Dividend for FY 2018 |
|
|
Total dividend |
SAR 6.906 bln |
|
Percentage of capital |
42.5% (SAR 4.25/share) |
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