Riyadh – Mubasher: The shareholders of Alinma Bank approved cash dividends after Zakat worth SAR 996.09 million, equivalent to 5% of the capital, for the second half (H2) of 2022.

A total of 1.99 billion shares will be eligible for a dividend of SAR 0.50 per share, according to a bourse filing.

The Saudi lender highlighted that the dividends distribution will commence on Thursday, 11 May.

The shareholders greenlighted the H2-22 dividends during the extraordinary general meeting (EGM) that was held on 30 April 2023, while the board members announced the proposal last December.

In 2022, Alinma Bank logged net profits valued at SAR 3.59 billion, up 32.84% year-on-year (YoY) from SAR 2.70 billion.