Riyadh – Mubasher: The ordinary general assembly meeting (OGM) of Bank Albilad has approved the recommendation of the board of directors to distribute SAR 375 million dividends to shareholders for the second half (H2) of fiscal year (FY) 2019.

The dividends to be distributed at SAR 0.5 per share represent 5% of the share’s nominal value, according to a statement to the Saudi stock exchange.

This will bring the net dividends distributed to the bank’s shareholders for last year to SAR 675 million or SAR 0.9 per share.

Eligibility for dividends will be to shareholders who own the bank’s shares at the end of the day of the general assembly meeting and who are registered in the bank’s shareholders register with the Securities Depository Centre Company (Edaa) at the end of the second trading day following the meeting.

Dividends will be distributed starting Monday 4 May 2020.

During the meeting, shareholders also approved the disbursement of SAR 3.52 million as a reward for the members of the board at SAR 320,000 for each member for FY19.