Saudi Hollandi Bank Rises to Month High on Bonus Share, Dividend

Saudi Hollandi Bank (AAAL) advanced to the highest level in more than a month after the Saudi lender said it plans to give one bonus share for every five held.

The shares rallied 2.5 percent to 28.60 riyals, the highest intraday level since Nov. 14, at 2:25 p.m. in Riyadh.

The bank will raise its capital to 3.97 billion riyals from 3.31 billion riyals through the bonus issue, it said late yesterday. Saudi Hollandi’s board also proposed paying 1 riyal a share dividend for 2011.

To contact the reporter on this story: Zahra Hankir in Dubai at

To contact the editor responsible for this story: Claudia Maedler at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.