SAIB’s board proposes SAR 525m dividends for 2021
- Date: 22-Dec-2021
- Source: Mubasher
- Sector:Financial Markets
- Country:Saudi Arabia
SAIB’s board proposes SAR 525m dividends for 2021
The board of (SAIB) has recommended on 22 December the distribution of cash dividends worth SAR 525 million, representing 7% of the capital, for 2021. The bank will pay a dividend of SAR 0.70 per share, after Zakat deduction, for a total of 750 million eligible shares, according to a bourse filing on Wednesday. SAIB will later announce the distribution date to the eligible shareholders. The cash dividend distribution for the non-resident foreign investors will be subject to a 5% tax deduction according to the Saudi income tax law. The Saudi lenderâs board has recently n through bonus shares.