Riyadh – Mubasher: Saudi Arabia’s Dallah Healthcare Company (DHC) on Wednesday said that its shareholders recommended raising capital by 27.1% via bonus shares during an ordinary general meeting (OGM) held the previous day.

DHC’s capital will be increased to SAR 750 million, from SAR 590 million, while shares will rise to 75 million from 59 million, the company said in a statement to the Saudi Stock Exchange (Tadawul). 

“Bonus shares are limited to shareholders recorded in company’s shareholders register at the Securities Depository Center (Edaa) at the end of the second trading day following the date of the extraordinary general assembly day, which will be determined later by the company,” the statement added.

The firm further noted that the capital hike aims to support its fiscal position to cope with its assets value.

“In case of fraction shares they, if any, they will be collected in one portfolio and sold at market price, then distributed to eligible shareholders within the regulatory period,” DHC’s statement further noted.

Earlier on Thursday, the Saudi healthcare provider stated that its board of directors decided to distribute cash dividends of SAR 88.5 million, or SAR 1.5 per share, for the full year 2018.

DHC last reported a 26% year-on-year profit drop in the third quarter of 2018, registering SAR 101.4 million, compared to SAR 136.8 million ($36.46 million).

From January to September, the firm’s profits slid 21% to SAR 325.5 million, compared to SAR 410.9 million from the same period a year earlier.