Riyadh – Mubasher: Arab National Bank (ANB) on Thursday announced that the bank’s shareholders had approved distributing a cash dividend for the second half of 2018 and raising capital via bonus shares issue during an extraordinary general meeting (EGM) held in the previous day.
ANB’s shareholders agreed to increase capital by 50% to SAR 15 billion from SAR 10 billion, according to a statement to the Saudi Stock Exchange (Tadawul).
The EGM also nodded to distribute SAR 850 million in cash dividends at 85 halalas per share for H2-18.
Dividends will be distributed on 8 April, the statement added.
In February, the Saudi lender reported a 9.35% year-on-year increase in profits during the full-year 2018, logging SAR 3.31 billion, compared to SAR 3.03 billion.
