Riyadh – Mubasher: The board of Banque Saudi Fransi has recommended the distribution of cash dividends worth SAR 1.01 billion, representing 8.5 %of the capital, for the second half (H2) of 2021.

The bank will pay a dividend of SAR 0.85 per share, after zakat deduction, for a total of 1.19 billion eligible shares, according to a bourse filing on Thursday.

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 dividend's entitlement date for H2-21 dividends will be for the shareholders registered in the Depository Center at the end of the second trading day following the general assembly meeting.

Banque Saudi Fransi will later announce the dates of the general assembly meeting, dividends distribution, and eligibility.

Following the H2-21 dividend payout, the Saudi lender’s cash dividends for the full year 2021 will total SAR 1.8 billion or SAR 1.50 per share, representing 15 % of the capital.

It is worth noting that Banque Saudi Fransi distributed cash dividends worth SAR 779.97 million, representing 6.5% of the capital, for H1-21.