BSF shareholders OK 5% dividend for H2 2024

Banque Saudi Fransi’s (BSF) shareholders approved the board’s recommendation to pay a cash dividend at 5% of capital, or SAR 0.5 a share, for H2 2024, during the extraordinary general meeting (EGM) held on May 14, according to a statement to Tadawul.

Shareholders also authorized the board to pay an interim dividend on a semi-annual or quarterly basis for 2025.

They also approved the bank’s plan to repurchase up to a maximum of 15 million of its own shares to be allocated under the employee stock incentive plan. The repurchase will be financed through the bank’s internal resources.

The board of directors was also authorized to complete the transaction within 18 months from the date of the extraordinary general meeting’s resolution.

BSF will hold the repurchased shares for no more than 10 years from the date of the EGM approval, during which they must be allocated to eligible employees. After this period, the bank will follow applicable procedures and regulations.

According to data available on Argaam, BSF’s shareholders approved, in December 2024, a recommendation to increase the bank’s capital by 107.41% through a bonus share issuance.

Prior to the capital increase, the bank distributed a 10% cash dividend, or SAR 1 per share, for H1 2024.