Apr 18 2008
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Bank Aljazira raises capital to SR3 billion
The 42nd general annual meeting of the bank was held at Jeddah Hilton led by Taha Bin Abdullah Al-Qwaiz, head of the board, along with some prominent board members like Abdullah Saleh Kamel, Abdullah Al-Angari, Khalid Bin Omar Al- Baltan, Eng. Abdul Majid Al-Sultan, Khalifa Bin Abdul Latif Al-Mulhim, Mshari Bin Ibrahim Al- Mshari, and Mohammad Bin Abdullah Al-Mudbel.
The meeting also increased the bank's capital from SR2.250 billion (255 million equities) to SR3 billion (300 million equities), or a 33.3 percent increase.
The SR750 million hike will be deducted from the net profits account according to the SAMA regulations.
The board likewise approved dividend of SR0.50 per each equity owned and registered at Tadawul by the end of the stock market session on Wednesday and the added profits on April 29.
Allocation of one free share for each three shares previously owned was also granted.
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