Saudi: Al Rajhi Bank’s shareholders nod to 2022 dividends

Reuters Images/Faisal Al Nasser

The Saudi bank highlighted that the dividends distribution will commence on 2 April 2023

Staff Writer, Mubasher

March 22, 2023

PHOTO

Riyadh – The shareholders of Al Rajhi Bank greenlighted cash dividends of SAR 5 billion, representing 12.50% of the lender’s capital, for 2022.

In this regard, a total of 4 billion eligible shares will receive an estimated dividend of SAR 1.25 per share, according to a bourse disclosure.

The Saudi bank highlighted that the dividends distribution will commence on 2 April 2023.

Notably, the shareholders granted their approval for the dividends during the general assembly meeting that was held on 21 March 2023, while the board announced the proposal last January.

In the January-December 2022 period, Al Rajhi Bank registered net profits worth SAR 17.15 billion, higher by 16.31% than SAR 14.74 billion in 2021.

The earnings per share (EPS) jumped to SAR 4.24 last year from SAR 3.69 as of 31 December 2021.

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