The extraordinary general assembly of the Saudi Arabian Oil Company (Aramco), last Thursday, approved the recommendation of the board of directors to increase the company's capital from 60 billion riyals to 75 billion riyals, By capitalizing 15 billion riyals of retained earnings.
According to Aramco, shareholders will be given one share for every 10 shares owned in the company.
The company's capital before the increase is 60 billion riyals, and after the increase it will become 75 billion riyals, an increase of 25%.
The number of the company's shares before the increase was 200 billion shares, and after the increase, it will become 220 billion shares.
The company stated that, through the capital increase, it aims to maximize total returns to shareholders by distributing sustainable and increasing profits in line with future aspirations and growth in free cash flow, creating Higher value in the long run by investing in the many opportunities available to the company.
The eligibility of the bonus shares is for the company's shareholders who own the shares at the end of the trading day of the company's extraordinary general assembly and who are registered in the Saudi Aramco shareholders' register with the Securities Depository Center Company (Depository Center). At the end of the second trading day following the date of the Extraordinary General Assembly.
