Saudi Investment Bank’s (SAIB) extraordinary general assembly has approved a 6 percent cash dividend for the fiscal year 2017, at SAR 0.6 per share, amounting to SAR 450 million.
Shareholders also approved acquiring up to 10.07 million bank shares to allocate them for employees program.
The purchase will be financed from the bank’s resources, SAIB said in a bourse statement.
The assembly has also delegated the board of directors to complete the purchase of shares on one or more stages within 12 months from this approval.
The board will determine the rules and conditions of this program including the price per share if they will be offered for cash, the statement added.
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Cash Dividend Details (FY 2017) |
|
|
Current Capital |
SAR 7.5 bln |
|
Number of shares |
750 mln |
|
Cash dividend |
SAR 450 mln |
|
Percent capital |
6% (SAR 0.6 per share) |
|
Record date |
April 24, 2018 |
|
Payment date |
May 1, 2018 |
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