Riyadh – Mubasher: Bank Albilad on Thursday announced that its shareholders had approved a cash dividend distribution of SAR 0.40 per share for the second half of 2017 during an ordinary general meeting (OGM) held the previous day.
The total amount of H2-17 dividends reached SAR 240 million, representing 4% of the capital, according to the bank’s statement to the Saudi Stock Exchange (Tadawul).
The dividends will be distributed on Sunday, 29 April to the shareholders registered in records on 12 April, the Saudi Arabia-based lender noted.
As for the full-year 2017, Albilad’s profits hiked 16.6% to SAR 942 million, compared to SAR 807.7 million a year earlier.
In May 2017, the bank approved distributing a cash dividend of SAR 0.50 per share, or 5% of the share’s nominal value, to the shareholders for 2016.
By the end of Wednesday’s session, Bank Albilad’s stock declined 2% at SAR 22.96.
