According to the Tadawul announcement dated 06/05/2024, Aldrees Petroleum and Transport Services Co.(4200.SA)'s shareholders have approved a substantial financial strategy for 2023 during their extraordinary general meeting on May 5, 2024. This includes the distribution of a 10% dividend, equating to SAR 1 per share, from a capital base of SAR 750 million, resulting in a total dividend payout of SAR 75 million. Additionally, the shareholders endorsed a 33.33% increase in capital through a 1-for-3 bonus share issue, raising the company's capital to SAR 1 billion with a new total of 100 million shares.

This capital adjustment, sourced from retained earnings, aims to align Aldrees' capital structure with its expanding business scale and future goals. The adjustment will take effect on May 5, 2024, for shareholders recorded on this date and registered with the Securities Depository Center Co. (Edaa) by the end of the second trading day post-EGM. The dividends are slated for payment on May 20, 2024. Additionally, any fractional shares resulting from the bonus issue will be aggregated and sold at market price within 30 days following the allocation of new shares.