Riyadh – Mubasher: Arriyadh Development Company’s shareholders approved distributing cash dividends for the second half of 2018 and raising the company’s capital by issuing bonus shares during an extraordinary general meeting (EGM) held on Thursday.
The Saudi firm’s EGM approved increasing the company’s capital by 33.3% to SAR 1.78 billion via issuing 3-for-1 bonus shares, according to a statement to the Saudi Stock Exchange (Tadawul) on Sunday.
The company aims to support its capital through capitalising SAR 200 million from retained earnings and SAR 244.44 million from statutory reserve.
In addition, the EGM also approved distributing a cash dividend of 80% of the share’s nominal value for the second half of 2018.
