|26 March, 2020

Riyad Bank shareholders approve H2- 2019 dividends

This brings the total dividends for last year to $856mln

A man walks at the Saudi Stock Exchange (Tadawul) following the debut of Saudi Aramco's initial public offering (IPO) on the Riyadh's stock market, in Riyadh, Saudi Arabia, December 11, 2019. Image used for illustrative purpose.

A man walks at the Saudi Stock Exchange (Tadawul) following the debut of Saudi Aramco's initial public offering (IPO) on the Riyadh's stock market, in Riyadh, Saudi Arabia, December 11, 2019. Image used for illustrative purpose.

REUTERS/Ahmed Yosri

Riyadh – The ordinary general meeting (OGM) of Riyad Bank has approved the distribution of cash dividends for the second half (H2) of last year.

Dividends will be distributed at SAR 0.55 per share, representing 5.5% of share’s par value, according to a statement to the Saudi Stock Exchange (Tadawul) on Thursday.

It is worth noting that the bank previously distributed SAR 0.52 per share as dividends for H1-19.

This brings the total dividends for 2019 to SAR 1.07 per share or 10.7% of the company’s capital at a total value of SAR 3.21 billion.

During the OGM, shareholders approved authorizing the Board of Directors to distribute interim dividends to shareholders for FY2020 on bi-annually or quarterly basis.

Source: Mubasher

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