THE SAUDI BRITISH BANK (SABB) ANNOUNCES RECOMMENDATION OF THE BOARD OF DIRECTORS TO DISTRIBUTE INTERIM CASH DIVIDENDS TO SHAREHOLDERS FOR THE SECOND HALF OF THE FISCAL YEAR ENDING 31 DECEMBER 2017
The Saudi British Bank (SABB) announces that the Board of Directors has recommended today, Sunday, 24 December 2017 to the General Shareholders Meeting of the Bank to be held in the first quarter of 2018, the distribution of cash dividends for the second half of the fiscal year ending 31 December 2017 as follows:
1. Total distribution amount: SAR 1065 Million.
2. Distribution per share: SAR 0.71 per share after deduction of Zakat.
3. Number of shares eligible for dividends: 1,500,000,000 shares.
4. Distribution to share nominal value: 7.1 %.
The Bank has distributed a net cash dividends of SAR 1065 Million for the first half of the fiscal year 2017 to the shareholders registered in the Banks share registry as of 03 August 2017 at the rate of SAR 0.71 per share which represents 7.1% of the share nominal value. Consequently, the total net distributed dividends for the year ending 31 December 2017 amount to SAR 2130 Million at the rate of SAR 1.42 per share which represents 14.2% of the share nominal value.
The eligibility of dividends shall be for the shareholders owning shares on the due date and those shareholders registered in the Banks share registry at the Securities Depository Center Company at the end of the second trading day following the due date which shall be announced later as well as the date and details of processing cash dividends distribution.
The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.