Riyadh – Mubasher: The shareholders of Bank Albilad greenlighted the payment of SAR 500 million as cash dividends for 2022, according to a bourse filing.
In this regard, the lender will distribute SAR 0.50 per share, accounting for 5% of the share nominal value, on 10 May.
The board members proposed the dividends in December 2022, while the shareholders granted their approval during the extraordinary general meeting (EGM) on 1 May 2023.
Last year, Bank Albilad registered 23.43% higher net profits at SAR 2.08 billion, compared to SAR 1.68 billion as of 31 December 2021.
In the first three months (3M) of 2023, the bank’s net profits increased by 14.20% year-on-year (YoY) to SAR 559.90 million from SAR 490.30 million.
