Foods Gate Trading Co.’s board of directors recommended on March 2 to pay a cash dividend at 10%, or SAR 1 a share, for 2024, according to a statement toTadawul. 
Dividend Details
Current Capital
SAR 21 mln
Number of Shares
2.1 mln
Total Dividend
SAR 2.1 mln
Percentage of Dividend
10% (SAR 1 a share)
Record Date
Shareholders of record, and those registered with Edaa on the second trading day following the general meeting date.
Payment Date
To be determined later
In a separate statement, the company said that the board also recommended a 50% capital increase from SAR 21 million to SAR 31.5 million through a 1-for-2 bonus share issue.
The SAR 10.5 million increase will be financed through capitalizing a part of the retained earnings.
Capital Increase Details
Current Capital
SAR 21 mln
Number of Shares
2.1 mln
Nominal Value
SAR 10/share
Percentage of Increase
50% (1:2 bonus share issue)
Method
Capitalizing SAR 10.5 mln from retained earnings
New Capital
SAR 31.5 mln
New Number of Shares
3.15 mln
Reason
To fund operational projects and investment expansions to enhance the company’s ability to achieve its strategic objectives and raise the efficiency of its business to ensure sustainable growth and achieve added value for shareholders
Record Date
Shareholders of record and those registered with Edaa on the second trading day following the record date
Fractional shares, if any, will be compiled in one portfolio for all shareholders and will be offered at market price. Proceeds will be distributed among entitled shareholders pro rata within 30 days maximum.
Meanwhile, the company’s board also recommended the transfer of the company’s statutory reserve balance, which amounted to SAR 4.9 million as of Dec. 31, 2024, to the retained earnings account, the statement added.
Foods Gate Trading Co.’s board of directors recommended on March 2 to pay a cash dividend at 10%, or SAR 1 a share, for 2024, according to a statement toTadawul.
Dividend Details
Current Capital
SAR 21 mln
Number of Shares
2.1 mln
Total Dividend
SAR 2.1 mln
Percentage of Dividend
10% (SAR 1 a share)
Record Date
Shareholders of record, and those registered with Edaa on the second trading day following the general meeting date.
Payment Date
To be determined later
In a separate statement, the company said that the board also recommended a 50% capital increase from SAR 21 million to SAR 31.5 million through a 1-for-2 bonus share issue.
The SAR 10.5 million increase will be financed through capitalizing a part of the retained earnings.
Capital Increase Details
Current Capital
SAR 21 mln
Number of Shares
2.1 mln
Nominal Value
SAR 10/share
Percentage of Increase
50% (1:2 bonus share issue)
Method
Capitalizing SAR 10.5 mln from retained earnings
New Capital
SAR 31.5 mln
New Number of Shares
3.15 mln
Reason
To fund operational projects and investment expansions to enhance the company’s ability to achieve its strategic objectives and raise the efficiency of its business to ensure sustainable growth and achieve added value for shareholders
Record Date
Shareholders of record and those registered with Edaa on the second trading day following the record date
Fractional shares, if any, will be compiled in one portfolio for all shareholders and will be offered at market price. Proceeds will be distributed among entitled shareholders pro rata within 30 days maximum.
Meanwhile, the company’s board also recommended the transfer of the company’s statutory reserve balance, which amounted to SAR 4.9 million as of Dec. 31, 2024, to the retained earnings account, the statement added.
