By Mouaaz bin Saad

Riyadh-Mubasher: Shareholders of Al Hammadi Co for Development and Investment approved increasing capital by 60% from SAR 750 million to SAR 1.2 billion, through distributing three-for-five bonus shares.

The top-up will be carried out through capitalising SAR 450 million – SAR 392 million from statutory reserves and SAR 58 million from retained earnings.

In addition, shareholders gave a nod to the payment of cash dividends at 10% of capital, or SAR 1 per share.

The payment date will be announced later.