Mubasher TV
Contact Us Advertising   العربية

MIS' board plans 11% dividends for H2-20; 25% capital raise

MIS' board plans 11% dividends for H2-20; 25% capital raise
The distributions will be paid on 20 January 2021.
MIS
7200
0.74% 137.00 1.00

Riyadh – Mubasher: Al Moammar Information Systems' (MIS) board proposed distributing SAR 22 million in cash dividends to shareholders for the second half (H2) of 2020.

The recommended amount is equivalent to SAR 1.10 per share or 11% of the share’s nominal value, according to a stock exchange disclosure on Monday.

Eligibility of dividends will be to the shareholders at the end of 7 January 2021, 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, which will be announced later on.

The distributions will be paid on 20 January 2021.

In the first nine months of 2020, MIS' profits stood at SAR 63.84 million, up by 63.1% yearly.

In a separate filing, the board recommended raising the company’s capital by granting 1 bonus share for every 4 shares through transferring part of the retained earnings and statuary reserve to share capital.

Accordingly, the capital will be increased by 25% to SAR 250 million from SAR 200 million. The step aims to strengthen the company's capital in line with the size of its expanding business and future goals.