[ad_1]
RIYADH: The Extraordinary General Meeting of Al Rajhi Bank approved Wednesday the distribution of its dividend for 2018 and an increase of its capital in the form of free shares.
The bank said in a statement released Thursday to Tadawul that cash dividends had been approved for the second half of 2018, to 2.25 Riyals per share.
* Report: Aramco Selects Al-Arian as Informal Advisor for Bonds Promotion Tour
* Saudi Aramco's production capacity is 12 million barrels a day
Dividend distributions for the first semester will be paid on April 11 to the shareholders of the Association, registered before the end of the second trading day following the date of the Meeting.
During the meeting, the meeting approved the allocation of shares for the first half of 2018 at a rate of 2 RS per share, representing 20% of the nominal value.
The capital increase of the bank was increased by 53.8% to 25 billion riyals by allocating free shares of 7 shares for 13 shares.
The Board of Directors has also been authorized to distribute interim dividends for the year 2019 and to determine the due date and disbursement date.
The assembly also approved the report of the board of directors and the auditor, the financial statements of the year 2018 and the discharge of the board of directors for this period.
He also approved the amendment of several articles of the Bank's bylaws, as well as the approval of the remaining items on the agenda.
The board of directors of Al Rajhi Bank had previously recommended increasing its capital by capitalizing 8.75 billion riyals on the carry-forward account again in order to strengthen its resources as part of its plan to achieve good growth rates in the years to come.
The bank's profits rose 13.05 percent in the fourth quarter of 2018 to Rs. 2,773 billion, rising 13 percent in 2018 to Rs. 10.3 billion.
The stock closed on Wednesday at SAR71.80, up 0.36.%.
appointments:
"Sahara "signed an agreement with Sipchem to change the terms of the merger agreement
Saudi Minister: The competition and supply system is in its final stages
Aramco plans to introduce 3 subsidiaries in the Saudi market
A Saudi company leads the realization of a gas pipeline in Bulgaria
[ad_2]
Source link
