Riyadh – Mubasher: The extraordinary general meeting (EGM) of Bank Albilad approved the distribution of cash dividends for 2016.
The bank will distribute dividends at SAR 0.50 per share or 5% of the nominal value, according to a bourse filing on Tuesday.
The distribution of the dividends will start on 25 May for the registered shareholders at the end of trades on the day following the EGM on 10 May.
The EGM agreed on the amendments done to the bank’s bylaws to be in line with the New Companies Law, the statement said.
Bank Albilad posted SAR 807.7 million profits in 2016, up 2.45% from SAR 788.4 million in 2015.
