The general assembly of the Saudi British Bank (SABB) approved the distribution of cash dividends of 3.6%, equivalent to 0.36 riyals per share for the second half of 2021.
According to Arabiya Net, the bank clarified in a statement that the eligibility for the dividends for the second half will be for the shareholders who own shares on the day of the assembly, and are registered in the bank's shareholders register at the Central Bank. Deposit at the end of the second trading day following the due date, which falls on Tuesday, April 19, 2022.
He added that distributing these dividends to shareholders will start on Monday, April 25th.
The bank stated that the general assembly agreed to authorize the board of directors to distribute interim dividends on a semi- or quarterly basis for the fiscal year 2022.
He indicated that the General Assembly also approved the business and contracts concluded between First Investment Company, a wholly owned subsidiary of SABB (as the buyer), and HSBC Arabia Saudi Arabia as Seller during 2021, which Board Members Anthony Krebs, Stephen Moss, Samir Assaf and David Dew (who retired as Board Member during 2021) have an indirect interest as members representing the foreign partner HSBC Holding BV. By the proposed transfer of the following:
- Asset management business.
- Retail margin lending business.
- Retail brokerage business from the seller to the buyer The proposed transaction whereby SABB will finance the buyer in a total amount of 440 million riyals to complete the proposed transaction.
