Riyadh – Mubasher: Arab National Bank on Monday said that its board of directors recommended distributing SAR 850 million cash dividends for shareholders for the second half of 2018, or SAR 0.85 per share.
Distributions represent 8.5% of the share’s par value, according to a bourse statement.
“Eligibility for dividend payout shall be for shareholders owning shares as of end of trading on the Ordinary General Meeting Date and who are registered with the Securities Depository Center (TADAWUL) on end of the second trading day following the Ordinary General Meeting date to be held in the first quarter of 2019,” the statement noted.
The bank further indicated that the payment date of distributions will be announced later.
Arab National Bank last reported a 15% year-on-year profit hike during the third quarter of 2018, logging SAR 890.1 million, compared to SAR 775.5 million.
From January to September, Arab National Bank’s profit increased by 9.7% year-on-year to SAR 2.62 billion, from SAR 2.39 billion.
The bank’s stock rose levelled down 0.32% to close Monday’s trading session at SAR 31.40.
