Al-Rajhi Bank revealed an increase in capital from 16.25 billion riyals to 25 billion riyals, through the distribution of bonus shares of 53.8%, after its general meeting yesterday. p>

The company also agreed to distribute cash dividends of 22.5% of the capital, equivalent to 2.25 riyals per share, as dividends for the second half of the fiscal year 2018, as agreed by the general To authorize the Board of Directors to distribute interim dividends on a semi-annual or quarterly basis for the fiscal year 2019, and to specify the due date and disbursement, in accordance with the regulatory controls and procedures issued in implementation of the corporate system.

In this context, the Saudi Stock Exchange announced Tadawul to calculate the volatility percentage for Al-Rajhi Bank share based on the price of 71.80 riyals.

Al-Rajhi Bank’s board of directors had recommended in January this year that the bank’s capital be increased by granting shares. The number of shares granted per share amounted to 7 shares for every 13 shares, and the increase will be made by capitalizing 8.75 billion riyals from the retained earnings account.

The bankers attributed the reasons for the increase in a statement on the Saudi market website Tadawul, to enhancing the bank's resources, which contributes to achieving good growth rates during the coming years.

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