Riyadh – Mubasher: Bank AlJazira said Thursday that its board of directors has recommended distributing cash dividends of SAR 0.5 per share for fiscal year 2016, totalling SAR 200 million.
The board also proposed to increase the bank’s capital by SAR 1.2 billion to SAR 5.2 billion through distributing 3-for-10 bonus shares for the year which ended on 31 December 2016, totalling 400 million bonus shares, according to a bourse filing.
Thus, the number of shares will be increased from 400 million to 520 million.
The capital hike aims at strengthening the capital base of the bank.
