Riyadh – Mubasher: The extraordinary general meeting (EGM) of Saudi British Bank (SABB) approved the distribution of cash dividends for the second half of 2016.

The company will distribute dividends at SAR 0.35 per share or 3.5% of capital, totalling SAR 525 million, according to a bourse filing.

The distribution of the dividends will start as of 4 May for the registered shareholders at the end of trades on the day after the meeting, namely 27 April.

The EGM also agreed on the board’s and auditors’ reports for 2016, in addition to amending the company’s bylaws to be in line with the New Companies Law, the statement added.

The meeting also gave a nod to mandating the board to distribute interim quarter and biannual dividends.