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ANB obtains shareholders’ approval for H2-22 dividends

ANB obtains shareholders’ approval for H2-22 dividends
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Riyadh – Mubasher: The shareholders of Arab National Bank (ANB) greenlighted the payment of SAR 900 million as cash dividends after Zakat for the second half (H2) of 2022, according to a bourse disclosure.

Eligible shareholders will receive SAR 0.60 per share, equivalent to 6% of the par value, on 11 April 2023.

The shareholders approved the cash dividends during the ordinary general meeting (OGM) that was held on 28 March 2023, while the board announced the recommendation last December.

Last year, ANB witnessed 41.02% higher net profits at SAR 3.07 billion, compared to SAR 2.17 billion in 2021.

During the 12-month period that ended on 31 December 2022, the earnings per share (EPS) increased to SAR 2.05 from SAR 1.45 a year earlier.