The Board of Directors of the National Bank of Saudi Arabia recommended distributing cash dividends with a total value of 2.687 billion riyals, to a number of shares entitled to dividends, 4.478 billion shares, for the second half of 2022.
According to the bank’s statement on the Saudi Tadawul website, the share of the share from the distribution is 0.60 riyals after deducting zakat, with a distribution ratio to the nominal share value of 6%.
The Board of Directors of the National Bank of Saudi Arabia also recommended increasing the bank’s capital by granting bonus shares to shareholders by capitalizing 15.220 billion riyals of retained earnings, by granting one share for every 3 owned shares.
The National Bank of Saudi Arabia said that the capital will become, after the increase, 60 billion riyals instead of 44.78 billion riyals, an increase of 33.99%, while the number of shares will become 6 billion shares, instead of 4.478 billion shares.
This recommendation aims at the Extraordinary General Assembly to strengthen the Bank's financial position in a way that contributes to achieving its strategic objectives.
