Al Hammadi Development & Investment Company’s board of directors recommended on Tuesday a 60 percent capital raise from SAR 750 million to SAR 1,200 million through the issuance of bonus shares (six shares for every ten shares).
The company’s board also recommended a 10 percent cash dividend at SAR 1 per share for 2014.
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Capital Rise Details |
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SAR 750 mln |
Current capital |
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75 mln shares |
Number of shares |
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60% (six shares for every ten shares) |
Capital raise percentage |
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SAR 1,200 mln |
New capital |
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120 mln shares |
Number of Shares after raise |
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Extraordinary General Assembly day |
Record date |
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Cash Dividend Details |
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SAR 75 mln |
Cash dividend |
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10% ( SAR 1/share) |
Percent of capital |
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General Assembly day |
Record date |
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Determined later |
Payment date |
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