Riyadh – Mubasher: The board members of Al Tayyar Travel Group has agreed on distributing 5% of par value as cash dividends for the second half of fiscal year 2017.

Saudi Arabia's largest travel company will pay SAR 0.50 per share at a total value of SAR 104.83 million, according to a bourse statement to the Saudi Stock Exchange (Tadawul) on Sunday.

The Tadawul-listed company will start distributing the dividends to the shareholders on 25 February by transferring the amount to the shareholders’ accounts through the Saudi British Bank (SABB).

Al Tayyar noted that these dividends will be paid to shareholders registered on 18 February.

Al Tayyar has a capital of SAR 2.1 billion distributed on 209.65 million shares at a par value of SAR 10 each.

During FY17, Al Tayyar posted a decline of 38.9% in profits to SAR 497 million compared to SAR 814 million in the previous year.