Riyadh – Mubasher: The extraordinary general meeting (EGM) of the National Commercial Bank’s (NCB) approved the distribution of cash dividends for the second half of 2016.
The company will pay dividends at SAR 1 per share, totalling SAR 1.99 billion and representing 10% of the nominal value, according to a bourse filing on Thursday.
The dividends distribution will start on 14 May through the direct deposit in the investment portfolios of the shareholders.
The meeting nodded to mandating the board to pay interim dividends to shareholders on bi-annual and quarterly basis.
Moreover, the EGM agreed on the board's and auditors’ reports for 2016, in addition to amending the company’s bylaws to be in line with the New Companies Law.
