Arab News, Monday, Jun 27, 2022 | Zul Qaadah 27, 1443
Saudi Arab National Bank to pay $200m dividend for first half following strong Q1 result
Saudi Arabia:
Arab National Bank’s board has proposed a dividend payout of SR750 million ($200
million) for the first half of 2022 following strong earnings in the first
quarter of the year.
It will distribute SR0.5 per share dividend to 1.5
billion eligible shares on July 18, according to a bourse filing.
The Saudi lender had earlier posted a 12-percent
surge in its quarterly profit to SR650 million, from SR582 million in the same
period last year.
The profit growth was primarily attributed to
higher gains from special commissions, financing, and investment activities,
along with a rise in net exchange and trading income.
Founded in 1979, Riyadh-based Arab National Bank
is one of the 10 largest in the Middle East, operating through 156 branches in
the Kingdom.