The extraordinary general meeting (EGM) of Development Works Food Company (DWF) on 9 September approved to increase the firm’s capital to SAR 25 million from SAR 12.5 million through granting 100% bonus shares of the retained earnings to the shareholders.
The bonus shares will be due for the company’s shareholders of records on 9 September, as well as of those registered on the trading day following the maturity date, the company disclosed to the Saudi Stock Exchange (Tadawul) on Tuesday.
The company has also approved the financial statements of fiscal year 2018.
During Tuesday’s session, Tadawul announced that DWF’s stock volatility was calculated on a basis of SAR 39.5 a share.
It is worthwhile to mention that during the second quarter of 2019, Saudi DWF’s profits retreated by 16.57% to SAR 2.24 million when compared to SAR 2.68 million in Q2-18.