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Riyadh – Mubasher: Halwani Bros. Company’s board recommended raising the company’s capital by 12.5% to SAR 353.57 million by issuing one share for every eight owned shares, subject to competent approvals.
The step comes to support the company’s capital in line with its business size and future ambitions, according to a stock exchange statement on Monday.
In a separate filing, the board proposed distributing SAR 47.14 million or 15% of the share’s par value in cash dividends to shareholders for fiscal year (FY) 2020.
Eligibility of dividends will be to the shareholders on the maturity date, as per the registered shareholders in the register of the Securities Depository Center Company (Edaa) at the end of the second trading day following the general assembly’s meeting date.