24/11/2004
The Saudi Investment Bank declared today that it intends to increase its capital by 25%, from SAR 1.375 billion to SAR 1.718 billion by issuing one new share for every four outstanding shares. This will increase the total number of outstanding shares from 27.5 million to 34.3 million. Additionally, the Bank will also distribute cash dividend at SAR 3 per share for all outstanding shares (27.5 million shares) prior to the capital increase. The Board of Directors has approved the recommendation to be submitted to the General Assembly of the bank.
The date of the General Assembly meeting and the eligibility for the new shares and cash dividend will be announced soon.
