Riyadh – Mubasher: The Saudi British Bank’s (SABB) extraordinary general meeting (OGM) approved the board's recommendation to distribute cash dividends at 71 halalas per share (SAR 0.70) for the second half of 2017.
Total distributions amount to SAR 1.1 million, making up 7.1 % of the share’s par value after the deduction of zakat, the bank said in a statement to the Saudi Stock Exchange (Tadawul).
Eligibility for H2-17 dividends will be for shareowners registered on 28 March 2018, as well as shareholders registered in the bank's share registry at the Depository Center at the end of the second trading day following the due date which corresponds to 1 April 2018, SABB stated.
The dividend payout will be made to the abovementioned shareholders on Sunday, 8 April.
SABB’s net profits jumped 16.31% to SAR 706 million in the fourth quarter of 2017, compared to SAR 607 million during the same period of 2016, while net profits rose 1.54% reaching SAR 3.96 billion in 2017, compared to SAR 3.9 billion in the year before.
By 12:48 pm KSA time, the bank's stock shed 0.56%, reaching SAR 30.35.
