Riyadh – Mubasher: Samba Financial Group on Monday announced that its shareholders had approved distributing a cash dividend of SAR 0.75 per share for the second half of 2017 during an ordinary general meeting (OGM) held the previous day.

Total distributions amounted to SAR 1.5 billion, making up 7.5% of the share's par value, Saudi Arabia's third-largest bank by assets said in a statement to the Saudi Stock Exchange (Tadawul).

The dividends will be distributed on Thursday, 26 April to the shareholders registered in records on 15 April, the banking and financial services provider noted.

The shareholders approved authorising the board to distribute dividends on a semi-annual or quarterly basis for the fiscal year 2018, while the board and auditor reports for 2017 were approved.

Samba’s net profits inched up 0.4% to SAR 5.02 billion during the full year 2017, compared to SAR 5 billion a year earlier.

By 10:18 am KSA time, the stock fell 1.25% to SAR 26.95.