The Board of Directors of First Saudi Bank recommended distributing cash dividends to shareholders for the second half of 2023, at the rate of 0.98 riyals, representing 9.8% of the nominal value.

The bank explained, in a statement on trading on Sunday, that the value of dividends amounts to 2.01 billion riyals, while the number of shares entitled to dividends is 2.05 billion shares.

He pointed out that the eligibility for cash dividends will be for shareholders who own shares on the day of entitlement and who are registered in the shareholders’ registry at the Depository Center at the end of the second trading day following the day of the General Assembly, the date of which will be announced later.

He also pointed out that the distribution date will be announced later after obtaining the approval of the General Assembly.

The bank noted that it had obtained a no-objection from the Central Bank of Saudi Arabia to distribute cash dividends to shareholders for the second half of the year 2023.

The results of the First Saudi Bank in 2023 revealed an increase in net profits by 45.09%, to about 7 billion riyals, compared to 4.83 billion riyals in the bank’s profits in 2022.