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SAB’s board eyes over SAR 2bn dividends for H2-23

SAB’s board eyes over SAR 2bn dividends for H2-23
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Riyadh – Mubasher: Saudi Awwal Bank (SAB) announced the board’s recommendation to disburse cash dividends worth SAR 2.01 billion for the second half (H2) of 2023, according to a bourse disclosure.

The lender will distribute a dividend after Zakat valued at SAR 0.98 per share, equivalent to 9.80% of the share nominal value, for 2.05 billion eligible shareholders.

Meanwhile, the payment date for the H2-23 cash dividends will be unveiled at a later time.

The Saudi Central Bank (SAMA) greenlighted the board’s proposal, which was made on 10 February 2024.

Last year, SAB logged net profits amounting to SAR 7 billion, higher by 45.09% than SAR 4.82 billion in 2022.

Earnings per share (EPS) hiked to SAR 3.41 during the January-December 2023 period from SAR 2.35 a year earlier.