Riyadh – Mubasher: The board of Saudi Investment Bank (SAIB) has recommended on 22 December the distribution of cash dividends worth SAR 525 million, representing 7% of the capital, for 2021.

The bank will pay a dividend of SAR 0.70 per share, after Zakat deduction, for a total of 750 million eligible shares, according to a bourse filing on Wednesday.

SAIB will later announce the distribution date to the eligible shareholders.

The cash dividend distribution for the non-resident foreign investors will be subject to a 5% tax deduction according to the Saudi income tax law.

The Saudi lender’s board has recently proposed a capital hike of SAR 2.5 billion through bonus shares.