Thndr Claps » EGY Claps » EGX 🔔 » Al Baraka Bank announces capital increase through bonus shares 🧧
Al Baraka Bank’s (SAUD) general assembly agreed to increase the bank’s capital by EGP 2.12 billion, to EGP 5.08 billion, by distributing bonus shares.
Companies decide to distribute earnings to shareholders in the form of bonus shares. This, unlike distributing cash dividends, guarantees a company’s capital increase.
How will it be distributed?
Shareholders will receive 0.71 bonus shares/original share. The operation will be financed from the bank’s profits generated in 2019 and 2020.
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