Riyadh – Mubasher: Saudi Awwal Bank (SAB) announced the board’s recommendation to disburse cash dividends worth SAR 2.01 billion for the second half (H2) of 2023, according to a bourse disclosure.
The lender will distribute a dividend after Zakat valued at SAR 0.98 per share, equivalent to 9.80% of the share nominal value, for 2.05 billion eligible shareholders.
Meanwhile, the payment date for the H2-23 cash dividends will be unveiled at a later time.
The Saudi Central Bank (SAMA) greenlighted the board’s proposal, which was made on 10 February 2024.
Last year, SAB logged net profits amounting to SAR 7 billion, higher by 45.09% than SAR 4.82 billion in 2022.
Earnings per share (EPS) hiked to SAR 3.41 during the January-December 2023 period from SAR 2.35 a year earlier.
