Saudi news

“Al-Ahly of Saudi Arabia” recommends increasing its capital to 60 billion riyals and distributing 6% cash dividends

The National Bank of Saudi Arabia announced the issuance of the Board of Directors’ decision to recommend to the Extraordinary General Assembly to increase the bank’s capital by granting bonus shares to the bank’s shareholders by capitalizing 15.220 billion riyals of retained earnings, by granting one share for every 3 shares owned.

The National Bank of Saudi Arabia said, in a statement on “Tadawul Saudi Arabia”, today, Thursday, that the capital, after the increase, becomes 60 billion riyals instead of 44.78 billion riyals, an increase of 33.99%, and the number of shares becomes 6 billion shares, instead of 4.478 billion shares.

This recommendation aims to strengthen the Bank’s financial position in a way that contributes to achieving its strategic objectives.

In a separate statement, the National Bank of Saudi Arabia announced the recommendation of the Board of Directors to distribute cash dividends to shareholders for the second half of the year 2022, with a total of about 2.687 billion riyals for the number of shares entitled to profits, 4.478 billion shares.

The bank said that the share of the share from the distribution is 0.60 riyals after deducting zakat, with a distribution ratio to the nominal share value of 6%.

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