Riyadh – Mubasher: The board members of Riyad Bank recommended cash dividends after Zakat amounting to SAR 2.24 billion for the second half (H2) of 2023.

The Saudi lender will disburse a dividend of SAR 0.75 per share for 2.99 billion eligible shareholders, according to a bourse filing.

Meanwhile, the eligibility and payment dates for the H2-23 dividends will be disclosed at a later time.

It is worth highlighting that the bank’s board proposed the dividends, which represent 7.50% of the share nominal value, on 12 February 2024.

During the January-December 2023 period, the net profits of Riyad Bank jumped by 14.62% to SAR 8.04 billion from SAR 7.01 billion in 2022.

Earnings per share (EPS) grew to SAR 2.58 as of 31 December 2023 from SAR 2.32 a year earlier.