Almuneef shareholders approve 50% capital hike via bonus issue

Almuneef Co. for Trade, Industry, Agriculture and Contracting shareholders approved a 50% capital increase through a bonus share issue, capitalizing SAR 19 million from retained earnings, the company said. The decision was made at an extraordinary general meeting.

The capital increase will be funded entirely from retained earnings, and shareholders will receive bonus shares in proportion to their existing holdings. The company did not specify the record date or the share distribution timeline.

Shareholders also authorized the board to declare and distribute interim dividends for the fiscal year 2026. The authorization gives the board flexibility to pay dividends on a semi-annual or quarterly basis if cash flow permits.

The capital hike boosts Almuneef's share capital without requiring new cash from shareholders. For a company with exposures in contracting and industrial projects, a larger equity base can support bigger bids and improve balance sheet ratios. The company has not released forward guidance on earnings or payout amounts.

Almuneef, listed on the Saudi Exchange, operates in construction and industrial trading.

The approvals were granted during the shareholder meeting. No date has been set for the bonus share distribution or the first interim dividend payment.