Riyadh – Mubasher: The extraordinary general meeting (EGM) of National Commercial Bank (NCB) has approved a cash dividend distribution of 12% of share’s nominal value after Zakat deduction for the second half of 2019.

The shareholders decided to distribute SAR 1.20 per share, totalling SAR 3.6 billion, according to the bank's disclosure to the Saudi Stock Excange (Tadawul) on Wednesday.

The profits will be deposited in the shareholders' accounts linked to their investment portfolios on Thursday, 9 April 2020.

Meanwhile, the shareholders have also agreed on SAR 3.3 billion dividends or SAR 1.1 per share for the first half of 2020.

At the same time, the shareholders have agreed to purchase up to 3.98 million of the bank's shares to be allocated to the long-term incentive programme for its executive staff. 

It is noteworthy to mention that in 2019, the bank's net profits climbed by 18.84% to SAR 11.4 billion, compared with SAR 9.59 billion in 2018.