Riyadh – Mubasher: Saudi Arabia-based Bank AlJazira on Wednesday announced that the bank’s shareholders had approved the board’s proposal to distribute 50 halalas per share as cash dividends for the full fiscal year 2018 during an extraordinary general meeting (EGM) held the previous day.

The eligibility of dividends shall be for the shareholders owning shares at the end of trading on Thuesday 16 April, and as per the registered shareholders in the register of The Securities Depository Center Company at the end of the second trading day following the eligibility date, according to a statement to the Saudi Stock Exchange (Tadawul).

The date of dividend distributions will be specified later, the statement added.

The bank’s EGM also approved the board’s and auditor’s reports on FY 2018 and nodded to amend some of its articles of association.

During the full-year 2018, the bank reported a 17% year-on-year profit increase to SAR 1 billion from SAR 857.5 million.