Riyadh – Mubasher: Saudi Arabia-based Al Rajhi Bank on Thursday said its shareholders had approved a cash dividend distribution for the second half of 2018 and raising capital via issuing bonus shares during an extraordinary general meeting (EGM) held in the previous day.
The bank will distribute a cash dividend of SAR 2.25 per share for H2-18, representing 20% of the share’s nominal value, according to a statement to the Saudi Stock Exchange (Tadawul).
The dividends will be distributed on 11 April, the kingdom-based lender added.
The EGM also nodded to increase the bank’s capital by 53.8% to SAR 25 billion by distributing bonus shares at 7-for-13 shares.
The meeting also endorsed the board’s and auditor’s reports, and 2018 financial statements.
During the full-year 2018, Al Rajhi Bank reported a 13% year-on-year profit growth, logging SAR 10.30 billion, compared to SAR 9.12 billion.
