SAIB’s board proposes SAR 525m dividends for 2021

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 lender’s board has recently n through bonus shares.