Riyadh – Mubasher: Bank Albilad’s board of directors approved the distribution of dividend totalling SAR 180 million to shareholders for the first half of 2017.

The bank will distribute dividends at SAR 0.3 per share, representing a par value of 3%, according to a filing to the Saudi Stock Exchange (Tadawul) on Tuesday.

Furthermore, the eligibility of dividends will be for shareholders listed in the registers of the Securities Depository Center (SDC) on Sunday, 1 October, and who are on the bank's books by the end of the second trading day following the eligibility day, namely on 3 October.

The Saudi bank set the date for distribution of dividends to Thursday, 19 October, the statement added.

Bank Albilad had previously posted a 30.61% year-on-year surge in net profits to SAR 468.1 million for H1-17 from SAR 358.4 million in the prior-year period, due to the increase in total operating income by 12%.