Riyadh – Mubasher: The extraordinary general meeting (EGM) of Banque Saudi Fransi (BSF) approved disbursing cash dividends worth SAR 1.19 billion or SAR 1 per share for the second half (H2) of 2019 as previously recommended by the board.

The dividends will be eligible to shareholders on the assembly meeting day and those registered on records at the end of the second trading day following the maturity date, according to a stock exchange statement on Thursday.

The dividends will be distributed on 8 June 2020.

In addition, the EGM approved the purchasing some of the bank's shares, with a maximum of 3 million shares and a sum not exceeding SAR 60 million, to be allocated to the Employee Long-Term Incentive Plan. It further approved the board’s report for the fiscal year (FY) 2019.

Last year, the bank reported SAR 3.12 billion in net profit, with an increase of 122% compared to that of the previous year at SAR 1.4 billion.