Alinma Bank announces $165.5mln dividends for Q1-24

Reuters Images/Faisal Al Nasser

The Saudi lender will distribute a dividend per share of SAR 0.25 after deducting Zakat, according to a bourse filing

Staff Writer, Mubasher

May 5, 2024

PHOTO

Alinma Bank will disburse cash dividends totalling SAR 621.38 million for 2.48 billion eligible shares for the first quarter (Q1) of 2024.

The Saudi lender will distribute a dividend per share of SAR 0.25 after deducting Zakat, according to a bourse filing.

Alinma Bank will pay 2.50% of its share par value as Q1-24 dividends on 2 June 2024, noting that the eligibility date is 19 May.

It is worth noting that the January-March dividend payout decision was made during the board meeting on 5 May 2024.

The bank recorded SAR 1.31 billion worth of net profits in the first three months (3M) of 2024, while its assets hit SAR 244.85 billion at the end of the quarter.

In April 2024, Alinma Bank’s equityholders passed the 25% capital increase recommendation to boost the financial position.

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