Saudi Hollandi set for bonus share issue

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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