Riyadh – Mubasher: The board members of Saudi National Bank (SNB) recommended cash dividends after Zakat valued at SAR 5.40 billion for the second half (H2) of 2023.

SNB will grant a dividend of SAR 0.90 per share for 6 billion eligible shareholders, according to a bourse statement.

The board proposed the cash dividends, which account for 9% of the bank’s capital, on 24 February 2024. 

Eligibility and distribution dates will be announced at a later time.

In 2023, the listed lender posted 7.69% higher net profits at SAR 20.01 billion, compared to SAR 18.58 billion in 2022.

During the third edition of the Saudi Capital Market Forum (SCMF), Single Stock Options (SSOs) contracts were rolled out on SNB.