SNB GA approves capital increase to SAR 60 billion by granting bonus shares to shareholders

The Saudi National Bank’s (SNB) Board of Directors announced the results of the Extraordinary General Assembly Meeting, which includes the approval on the Board of Directors’ recommendation to increase the Capital of the Bank by Granting Bonus Shares to the Shareholders according to the following:

– The Bank’s capital before the increase is SAR 44,780,000,000, divided into 4478000000 ordinary shares.

– The Bank’s capital after the increase is SAR 60,000,000,000, divided into 6 billion ordinary shares.

– The total amount of the increase is SAR 15,220 million.

– Percentage of Capital Increase: 33.99%

The bank administration stated on Monday on Tadawul that the increase will be through capitalization of SAR 15,220 million from retained earnings, approximately 1 bonus share for every 3 shares owned

The General Assembly also approved the Board of Directors’ Recommendation to Distribute Cash Dividends to Shareholders for the Second Half of 2022, amounting to SAR 2,68 billion at a rate of (60) Halalah per share, which represents 6% of the book value of the share after deducting zakat, for the 4,478,000,000 shares due for dividends.) Eligibility for dividends to the Bank’s shareholders who own shares at the end of the day of the General Assembly meeting, and who are registered in the Bank’s records at the Securities Depository Center Company (Edaa) at the end of the second trading day following the due date, and these profits will be distributed as of Thursday 18.05.2023.