The Saudi British Bank (SABB) General Assembly, in its meeting held on Monday, approved all the items on its agenda, most notably the distribution of cash dividends for the second half of 2018. < / p>
The bank said in a statement to the Saudi market, that the dividends distributed for the period referred to amount to 1.5 billion riyals by one riyal per share, which represents 10% of the nominal value of the share after Zakat deduction.
The bank stated that the eligibility for dividends distributed for the second half of 2018 for shareholders who own shares on the day of the meeting, and who are registered with the bank’s shareholders ’record at the Deposit Center at the end of the second trading day following the due date in April 3, 2019.
The bank added that the start of distributing the said profits to shareholders will be effective from Wednesday, April 10.
The bank’s general assembly approved the disbursement of 4.6 million riyals in bonuses and compensation to members of the board of directors for the past fiscal year ending on December 31, 2018.
SABB’s profit increased 24.6% in the past year, to reach 4.93 billion riyals, compared to a profit of 3.96 billion riyals in 2017.
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