Saudi Fransi Capital announces $2.2mln cash dividend

Amount will be paid to unitholders of Taleem REIT Fund

  
Saudi traders monitor stocks at a Saudi Bank in Dammam October 26, 2008.

Saudi traders monitor stocks at a Saudi Bank in Dammam October 26, 2008.

REUTERS/Stringer

Saudi Fransi Capital, the investment banking arm of Banque Saudi Fransi, is set to distribute cash dividends worth 8.1 million riyals ($2.2 million).

The payout will be paid to the unitholders of Taleem REIT Fund within 15 business days, the financial services provider said in a statement to the Saudi Stock Exchange (Tadawul) on Wednesday.

The cash distribution will be based on 51 million existing units, with a payout ratio of 1.54 percent of net asset value as of June 30, 2020, and profit amount of 0.16 riyals per unit.

Headquartered in Riyadh, Saudi Fransi offers investment banking, asset management, debt and equity research services, among others.

(Writing by Cleofe Maceda; editing by Seban Scaria)

Cleofe.maceda@refinitiv.com

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© ZAWYA 2020

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