Saudi news

Mouwasat announces distributing 30% cash dividends and increasing the capital with bonus shares

Al-Mouwasat Medical Services Company “Al-Mouwasat” announced the recommendation of the Board of Directors to increase the capital by granting shares to shareholders by 100%, and distributing cash dividends of 3 riyals per share for the fiscal year 2022 AD.

The company said in a statement on “Tadawul Saudi Arabia”, today, Thursday, that the Board of Directors recommended to the Extraordinary General Assembly to increase the company’s capital by 100% from one billion riyals to 2 billion riyals, by granting shares to the company’s shareholders at the rate of one share for each share owned, from By capitalizing an amount of one billion riyals from the balance of retained earnings.

It added that the number of shares after the increase will reach 200 million shares, up from 100 million shares before the increase.

The company aims, through the capital increase, to enhance its strategic growth plan in its assets, expand its medical network, and emphasize its financial solvency and the strength of its financial position.

The eligibility shall be for the shareholders who own the shares on the maturity date and are registered in the issuer’s shareholder register at the Depository Center at the end of the second trading day following the maturity date.

The grant is conditional on obtaining the approval of the official authorities and the extraordinary general assembly on the increase in the capital and the number of shares granted.

In a related context, the Board of Directors of Al-Mouwasat Medical Services Company recommended distributing cash dividends to the company’s shareholders for the fiscal year 2022 AD, at a rate of 30%, at 3 riyals per share.

She explained that the total distribution amounted to 300 million riyals, distributed over 100 million shares.

She indicated that the date of eligibility for profits will be for shareholders who own shares on the day of the company’s general assembly and are registered in the company’s shareholder register at the Depository Center at the end of the second trading day following the date of the company’s general assembly, which will be announced later after obtaining the approval of the competent authorities.

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