By Thabet Shehata
Riyadh – Mubasher: Traders in Saudi Stock Exchange (Tadawul) will see this week the distribution of SAR 7.98 billion ($2.13 billion) in cash dividends and SAR 577 million ($154 million) in bonus shares, totalling SAR 8.55 billion ($2.28 billion).
A total of 26 listed companies will convene shareholder meetings this week, out of which 15 will discuss the distribution of dividends for 2015, H2-15 or Q4-15.
The biggest dividend distribution to be discussed belongs to Saudi Telecom Company (STC) that will convene shareholders for a meeting on 4 April to look into paying SAR 2 billion, or SAR 1 per share, in dividends for the fourth quarter of 2015.
National Commercial Bank comes second, as it will hold a general meeting on 5 April to discuss paying out SAR 1.5 billion in cash dividends at SAR 0.75 per share for the second half of 2015.
The proposed cash dividends range from SAR 3.5 per share (for Yanbu Cement) and 0.35 halala per share (for Riyad Bank).
Saudi Investment Bank (SAIB) will discuss the distribution of bonus shares at 7.7% of capital, or SAR 500 million, in addition to cash dividends.
