Riyadh – Mubasher: The Saudi National Commercial Bank (NCB) said Wednesday that its board recommended distributing cash dividends for the first half of 2016 at SAR 0.60 per share, or 6% of capital.

Shareholders of record until 2 August would be entitled to the SAR 1.2 billion dividends that will be paid out starting from 17 August.

The bank's paid-in capital stands at SAR 20 billion, divided into 2 billion shares at a nominal value of SAR 10 each.

During the second quarter, the bank's net profit rose 3.17% year-over-year to SAR 2.44 billion from SAR 2.36 billion.

Over the first six months, earnings grew 2% to SAR 5.7 billion.