Logo of Alinma Bank
Alinma Bank’s shareholders approved, on April 23, the board of directors’ recommendation to increase capital by 25% by issuing one bonus share for every four shares held via capitalizing part of retained earnings.
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Capital Increase Details |
|
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Current Capital |
SAR 20 bln |
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Number of Shares |
2 bln |
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Capital increase (%) |
25% |
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New Capital |
SAR 25 bln |
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Number of Shares after Increase |
2.5 bln |
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Method |
Distribution of one bonus share for every four shares held |
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Nature and Value of Reserve |
Capitalizing SAR 5 billion from retained earnings |
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Record date |
April 23, 2024, for shareholders registered with Edaa on the second trading day following the record date. |
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Reason |
Strengthening the bank’s financial position to achieve its strategic objectives |
The shareholders also approved authorizing the board to distribute interim dividends on a quarterly or semi-annual basis for 2024, in addition to determining record and distribution dates, according to a statement to Tadawul.
Fluctuation limits will be based on a share price of SAR 33.60 today, April 24, 2024, and the outstanding orders will be cancelled.
The Securities Depository Center (Edaa) will add the bonus shares to shareholder portfolios before the start of trading on April 28.
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