Riyadh – Mubasher: Al Rajhi Bank’s board of directors recommended the distribution of SAR 4.06 billion in cash dividends with a dividend per share of SAR 2.5, representing 25% of the share’s par value, according to a statement to the Saudi Stock Exchange (Tadawul).

The Tadawul-listed bank stated that dividends will be distributed among shareholders of record by the end of the second trading day following the maturity date.

The maturity and dividends distribution dates will be specified later, the statement showed. 

The bank’s net profits jumped 19.83% to SAR 2.45 billion in the fourth quarter of 2017, from SAR 2.05 billion in the same period a year earlier.

Al Rajhi’s net profits levelled up 12.24% to SAR 9.12 billion during 2017, compared to SAR 8.13 billion in the year before.

The bank's stock rose 3%, closing Thursday at SAR 74.04.