Al Rajhi Bank’s board of directors has recommended a dividend payout of 4.6 billion Saudi riyals ($1.23 billion) for the second half of 2023.

The board has proposed an 11.5% cash dividend, at SAR 1.15 per share after Zakat, the bank said in a statement to the Saudi Stock Exchange.

The bank paid a dividend of SAR 4.6 billion for the first half of 2023.

(Editing by Seban Scaria