The Saudi Investment Bank increases its capital to seven billion riyals

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The Board of Directors of The Saudi Investment Bank recommended to the Extraordinary General Assembly, and after obtaining the approval of the competent authorities, to increase the bank's capital from SAR 6,500 million to SAR 7,000 million with an increase of 7.7% by granting one free share for every 13 existing shares, thus increasing the number of shares from 650 million shares to 700 million shares. This increase will be done by capitalizing SAR 500 million from retained earnings. The bank aims to strengthen the bank's capital base, which will contribute to increasing the growth rates and expansion of the bank's business in the coming years.

The eligibility, after submission to the competent authorities, will be for the holders of the Bank's shares at the end of trading on the day of the Extraordinary General Assembly to be held later, noting that the previously announced cash dividend will not include the bonus shares. The Board of Directors of the Bank also recommended to the Extraordinary General Assembly to distribute a cash dividend for the fiscal year 2015 of seventy-five fils per share of the Bank's shares.

Board of Directors of the Bank recommended to the Extraordinary General Assembly to distribute a cash dividend of seventy-five fils for each share of the Bank.