Egypt - Societe Arabe Internationale de Banque (SAIB) will distribute stock dividends of 0.05-for-1 of the bank’s share before the capital increase as of Monday, July 25th, according to a statement filed to the Egyptian Exchange (EGX) on July 7th.
The eligibility in the bonus share distribution will be for shareholders on the record date of July 24th.
This decision comes in line with the resolutions of the ordinary general meeting (OGM) dated March 19th 2020 and the extraordinary general meeting (EGM) dated April 11th 2022 on raising the issued capital to $157.5 million from $150 million.
The capital increase amounts to $7.5 million distributed over 750,000 at a nominal value of $10 per share.
Established in 1976, SAIB Bank is engaged in providing retail, corporate, and investment banking products and services through a network of 21 branches across Egypt and abroad. It also offers Islamic banking products and solutions through its branches.
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