The Board of Directors of Bank Albilad recommended distributing cash dividends to the bank's shareholders for the year 2022 at a rate of 5% of the nominal value of the share, at 0.50 riyals per share after deducting zakat.
Bank Albilad said in a statement to the Saudi market, Tadawul, today, Sunday, that the value of the recommended dividends for the last fiscal year amounted to 500 million riyals, while the number of shares due for dividends amounted to one billion shares.
Bank Albilad stated that the eligibility date for the shareholders who own the bank’s shares will be at the end of the day of the bank’s general assembly meeting and those registered in the bank’s shareholder register with the Securities Depository Center Company (Edaa) at the end of the second trading day following the date of the assembly, which will be announced later. The dividend date will be announced at a later time.
Bank Albilad also indicated that with regard to non-resident foreign investors, the cash dividends that are transferred through the resident financial intermediary are subject, when transferred or credited to his bank account, to a withholding tax of 5% in accordance with the provisions of Article (68) of the Income Tax Law and Article (63) of the Income Tax Law. its executive regulations.
The profits of Bank Albilad rose 22.5% at the end of the first nine months of 2022, to reach 1.54 billion riyals, compared to profits of about 1.26 billion riyals in the same period of 2021.
