Riyad Bank announced the recommendation of the bank's board of directors to distribute cash dividends to shareholders for the second half of this year, at a value of 1.95 billion riyals.
Riyad Bank said in a statement on (Tadawul), today, Monday, that the dividends are 6.5% of the nominal value of the share, at 0.65 riyals per share, after deducting zakat.
Riyad Bank stated in the statement that the recommended number of shares eligible for dividends amounts to 3 billion shares.
The bank stated that the date of eligibility for profits for shareholders who own shares at the end of trading on the day of the bank’s general assembly (which will be determined later) and who are registered in the bank’s shareholder register at the depository center at the end of the second trading day following the date of the assembly.
Riyad Bank stated that the date of the proposed dividend distribution will be announced at a later time.
The bank’s profits increased by 18.5% in the third quarter of this year, to reach 1.83 billion riyals, and the profits for the first nine months of the year increased by 13.2%, to reach nearly 5 billion riyals.
