The Savola Group's extraordinary general assembly has approved the Board of Directors' recommendations to increase the group's capital by 25 percent, raising it from SR800 million to SR1 billion by distributing four million free shares with average distribution of one
share for every four owned shares.
Previously, the Board of Directors approved paying out quarterly dividends of SR3.5 per share, which is a pioneering move among all joint stock companies in the Saudi Kingdom.
The Savola Group will commence distribution of the free shares May 25.
The Savola Group also held its 27th general assembly alongside its 18th extraordinary general assembly. (menareport.com)
© 2004 Mena Report (www.menareport.com)
