Saudi dairy company, Almarai has said its board of directors has advised doubling the company’s capital from SR1.15bn ($306m) to SR2.3bn to finance future projects, Arab News has reported. The capital will be increased through the distribution of bonus shares, offering one share for each outstanding stock, which will raise the company’s stock from 115 million to 230 million. Almarai made SR424.5m ($113m) in the third quarter compared with SR363.4m a year earlier, the company said.