Mubasher - Riyadh: Al Rajhi Bank announced on Sunday that cash dividends for the first half of 2016 will be distributed starting 31 July, through wire transfers into the shareholders’ current accounts that are linked to investment portfolios. Shareholders of records registered at the end of trading on Sunday, 24 July, will be entitled to receive the dividends, according to the bank’s statement.

The Bank’s board has recommended distributing cash dividends of SAR 0.75 per share for the first half of 2016, representing 7.5% of the share’s par value and totalling SAR 1.2 billion.

Al Rajhi recorded a 5.72% growth in profits in Q2-16 to SAR 2.05 billion ($546.7 million), compared to SAR 1.94 billion ($517.4 million).