SAFCO plans 1-for-4 bonus issue



Saudi Arabian Fertilizers Co.'s (SAFCO) shareholders approved a share dividend of SAR5 for 2007 and 1-for-4 bonus share issue, SAFCO said on Tuesday.

 

SAFCO, which reported on Monday a 125 per cent rise in first-quarter profit, said it would pay a share dividend of SAR2 for the second half of last year, bringing the overall dividend payout for 2007 to SAR5 per share or a total SAR1 billion (Dh979m).

 

The company's shareholders also approved, at an extraordinary general assembly meeting on Monday, a board proposal to raise the firm's capital to SAR2.5 billion from SAR2 billion through the bonus share issue, SAFCO said in a statement posted on the bourse's website. (Reuters)

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