Riyadh – The board of Academy of Learning Company has recommended a 50% capital increase to SAR 135 million from SAR 90 million through the issuance of bonus shares.
The proposed increase will be implemented by capitalizing SAR 45 million from the retained earnings account, according to a bourse filing.
Following the transaction, the company’s shares will rise to 135 million from 90 million, with shareholders receiving one bonus share for every two shares owned.
The capital hike aims to support the company’s growth and expansion in line with its strategic objectives.
In a separate disclosure, Academy of Learning’s board proposed distributing SAR 9 million cash dividends, equivalent to 10% of its capital, for the fiscal year (FY) 2024/2025.
The Saudi firm will pay out a dividend of SAR 0.10 per share to 90 million eligible shares.
In May, Academy of Learning entered into a three-year framework agreement with the Research and Studies Institute at the Saudi Electronic University, with an estimated value of SAR 23 million.
All Rights Reserved – Mubasher Info © 2005 – 2025 Provided by SyndiGate Media Inc. (Syndigate.info).