Riyadh – Mubasher: Taiba Holding Company on Sunday announced distributing cash dividends at 40 halalas per share for the fourth quarter of 2016, starting 25 April.

The distributions will take place through National Commercial Bank (NCB) and will be automatically deposited into the investment accounts linked to the shareholders' portfolios of all banks, the company added in its statements to the Saudi Stock Exchange (Tadawul).

The ordinary general meeting (OGM) of the company had approved distributing dividends totalling SAR 60 million for Q4-16.

The company’s board of directors had also approved distributing cash dividends of the same amount for Q1-17.

The Saudi company had previously reported a drop of 42.8% in profits reaching SAR 250.1 million in 2016, compared to SAR 436.9 million in 2015.

The stock ended Sunday’s trading session up 0.2% at SAR 44.90.