Riyadh – Mubasher: National Commercial Bank (NCB) on Thursday announced that the bank’s shareholders had approved the board of directors’ recommendation to distribute SAR 1.1 per share as cash dividends for the second half of 2018 during an extraordinary general meeting (EGM) held the previous day.
Distributions represent 11% of the share’s par value after deducting Zakat, the kingdom-based lender said in a statement to the Saudi Stock Exchange (Tadawul).
Eligibility of dividends will be for shareholders registered in the bank’s registries by the end of EGM’s meeting, while the dividend value will be deposited in investors’ accounts as of 24 April.
The EGM also authorised the board of directors to distribute interim dividends on a semi-annual or quarterly basis for 2019, as well as approved the auditor’s report.
NCB last reported a 9% rise in profits for the full-year 2018, reaching SAR 10.66 billion, compared to SAR 9.80 billion in 2017.
