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Saudi Hollandi set for bonus share issue

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Sunday, 08 February 2009
SAUDI RIYALS: Saudi Hollandi set to raise a few more of them. (Getty Images)
SAUDI RIYALS: Saudi Hollandi set to raise a few more of them. (Getty Images)

Saudi Hollandi Bank said on Sunday it plans a cash dividend of 0.75 riyals ($0.2) per share for 2008 and to raise its capital to some 3.31 billion riyals through a 1-for-4 bonus share issue.

Shareholders will vote on the board-proposed dividend and bonus shares issue next month, Saudi Hollandi said in a statement posted on the Saudi bourse's website.

The capital hike will be funded through the incorporation of retained profits, it said.

A consortium led by Royal Bank of Scotland and comprising Spain's Banco Santander and Belgian Fortis became Hollandi's largest shareholder after it bought Dutch bank ABN Amro in 2007. (Reuters)

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