Riyadh – Mubasher: Shareholders on the Saudi Stock Exchange (Tadawul) are anticipating dividend distributions totalling SAR 2.69 billion ($720 million) in the week between 31 July and 4 August, according to statistics by Mubasher.
Four major companies will be giving out dividends, namely: AlRajhi Bank, Riyad Bank, Southern Province Cement and Herfy Food Services.
AlRajhi Bank's distributions amounting to SAR 1.219 billion will account for 45% of the total this week, Mubasher's statistic have shown. The bank will begin distributions on Sunday, 31 July.
Riyad Bank will begin giving out cash dividends to its shareholders on Tuesday, 2 August, worth a total of SAR 1.05 billion, representing 39% of the week's total distributions.
Both Southern Province Cement and Herfy Foods will commence their dividend distributions on Thursday, 4 August, at a total value of SAR 350 million and SAR 69.3 million, respectively.
On another note, Wataniya Insurance will hold is extraordinary general meeting (EGM) on Sunday to discuss an SAR 100 million capital hike through a rights issue.
Arabia Insurance Cooperative's EGM will convene on Tuesday to discuss a capital reduction to SAR 365 million from SAR 400 million to trim accumulated losses.
