Saudi's Al Rajhi Bank board recommends $667mln dividend

The bank announced the dividend of SAR 1 per share

  
An investor walks past a screen displaying stock information at the Saudi Stock Exchange (Tadawul) in Riyadh, Saudi Arabia June 29, 2016.Image used for illustrative purpose.

An investor walks past a screen displaying stock information at the Saudi Stock Exchange (Tadawul) in Riyadh, Saudi Arabia June 29, 2016.Image used for illustrative purpose.

REUTERS/Faisal Al Nasser

The board of directors of Saudi Arabia’s second largest bank has recommended a dividend of SAR 2.5 billion ($667 million).

The bank made the announcement to the Saudi Stock Exchange (Tadawaul) today, that its board had recommended a dividend of SAR 1 per share on 2.5 billion shares for 2020. 

Al Rajhi Bank reported net income of SAR 10.59 billion in 2020, up from SAR 10.16 billion in 2019.

(Writing by Imogen Lillywhite; editing by Daniel Luiz)

(imogen.lillywhite@refinitiv.com)

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