Saudi Arabian Fertilizers Company's (Safco) shareholders approved a share dividend of SR5 ($1.33) for 2007 and 1-for-4 bonus share issue, Safco said on Tuesday.

Safco, which reported on Monday a 125 per cent rise in first-quarter profit, said it would pay a share dividend of SR2 for the second half of last year, bringing the overall dividend payout for 2007 to five riyals per share or a total SR1 billion.

The company's shareholders also approved at an extraordinary general assembly meeting on Monday a board proposal to raise the firm's capital to SR2.5 billion from ($666.7 million) 2 billion riyals through the bonus share issue, Safco said in a statement posted on the bourse's Web site.-Reuters