Riyadh – Mubasher: The total value of the dividends approved by Banque Saudi Fransi for 2022 reached SAR 1.98 billion, equivalent to SAR 1.65 per share which represents 16.50% of the share's nominal value.

This announcement followed the shareholders’ approval to pay SAR 1.07 billion as dividends for the second half (H2) of 2022. The payment is equivalent to SAR 0.90 per share which accounts for 9% of the share's nominal value.

The equityholders granted their approval during the extraordinary general meeting (EGM) that was held on 24 May, according to a bourse disclosure.

Banque Saudi Fransi noted that the distribution date for the H2-22 dividends will commence on 12 June 2023.

In December 2022, the board of the Saudi lender recommended the dividend payout for the July-December 2022 period.

Meanwhile, the bank generated net profits worth SAR 1.07 billion in the first quarter (Q1) of 2023 while its customer deposit account was valued at SAR 167.41 billion.