Bank Aljazira’s board of directors has recommended a 3.2 percent cash dividend for fiscal year 2017 at SAR 0.32 per share following the completion of announced capital hike.

 

In December 2017, the bank submitted a request to the Capital Market Authority (CMA) to raise its capital to SAR 8.2 billion from SAR 5.2 billion through a rights issue, Argaam reported. Details are in the table below:

 

Cash Dividend (FY 2017)

Current Capital

SAR 5.2 bln

Number of shares

520 mln

New Capital

SAR 8.2 bln

New number of shares

820 mln

Amount

SAR 262.4 mln

Percent of capital

3.2% (SAR 0.32 per share)

Record date

General assembly meeting

Payment date

To be determined

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