Riyadh – Mubasher: Alinma Bank on Sunday announced that its board of directors approved distributing a 10% cash dividend for the fiscal year 2018.

The Saudi-based lender will distribute an amount of SAR 1.49 billion, or SAR 1 per share, according to the bank’s statement to the Saudi Stock Exchange (Tadawul).

The bank did not determine the payment date.

During the first nine months of 2018, Alinma Bank’s profits surged 28% to SAR 1.85 billion, from SAR 1.45 billion in the corresponding period a year earlier.

By 10:35 am KSA time, Alinma Bank’s stock rose 4.13% at SAR 21.70.