The Board of Directors of Al Rajhi Bank recommended distributing cash dividends to shareholders at a rate of 11.5 percent of the capital (equivalent to 1.15 riyals per share after deducting zakat), as profits for the second half of 2023.
Al Rajhi Bank said in a statement on the Saudi Stock Exchange website, Tadawul, that the bank’s board of directors recommended distributing cash dividends to shareholders for the second half of 2023, totaling 4.6 billion riyals (about $1.23 billion) for a number of shares entitled to dividends, amounting to 4 billion shares.
The bank explained in its statement that it had obtained the Central Bank’s non-objection to the board’s recommendation to distribute cash dividends to shareholders for the second half of the fiscal year 2023.
Al Rajhi distributed net cash dividends amounting to 4.6 billion riyals for the first half of the fiscal year 2023, at 1.15 riyals per share, representing 11.5 percent of the nominal value of the share.
Thus, the total net profits distributed for the fiscal year ending on December 31, 2023 amount to 9.2 billion riyals, at 2.30 riyals per share, equivalent to 23 percent of the nominal value of the share.
