The board of directors of Halwani Brothers Company recommended distributing cash dividends for the year 2020 of 1.5 riyals per share, and increasing the capital by granting free shares to the company's shareholders.
The company said in a statement to the Saudi Market (Tadawul), today, Monday, that the recommendation includes the distribution of cash dividends of 47.14 million riyals, to be distributed to 31.4 million shares. / p>
and indicated that the eligibility of profits is for the shareholders registered in the company's shareholders register at the end of the second trading day following the day of the company’s general assembly, which will be announced after obtaining the approval of the competent authorities.
and the company indicated that it will announce the date and mechanism of distribution at a later time.
The company announced, in a separate statement, the Board of Directors’s recommendation to increase the company's capital by 12.5% from 314.3 million riyals to 353.57 million riyals, by granting bonus shares of one share One for every 8 shares held.
The company pointed out that the capital increase aims to structure the company's capital to match the size of its business and its future aspirations.
Halawani Brothers indicated that the capital increase will take place through the capitalization of 39.3 million riyals from the statutory reserve.
