Saudi: Riyad Bank to distribute $519mln cash dividends for H2-22

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A total of 3 billion eligible shares will receive a dividend

Staff Writer, Mubasher

March 27, 2023

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Riyadh: The shareholders of Riyad Bank approved the board’s recommendation to disburse cash dividends worth SAR 1.95 billion for the second half (H2) of 2022.

A total of 3 billion eligible shares will receive a dividend of SAR 0.65 per share on 3 April 2023, according to a bourse disclosure.

Meanwhile, the announced cash dividends, which were proposed last December, represent 6.50% of the bank’s capital.

In 2022, the Saudi lender logged net profits worth SAR 7.01 billion, up 16.50% year-on-year (YoY) from SAR 6.02 billion.

Earnings per share (EPS) increased to SAR 2.32 last year from SAR 2.01 in 2021, whereas the clients’ deposits jumped by 13.38% to SAR 240 billion from SAR 211.67 billion.

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