Bank Aljazira’s board authorized to distribute interim dividends in 2020

Bank Aljazira’s extraordinary general meeting (EGM) approved authorizing the board of directors to distribute interim dividends to shareholders on a quarterly or biannual basis for the year 2020, the bank said in a statement to Tadawul.

The board was also authorized to determine the maturity and distribution date, based on the regulatory procedures under the Companies Law and on the bank’s financial situation, cash flows and expansion plans.

Other agenda items were also endorsed including remuneration and compensation policy for board and committee members as well as the executive management.

Aljazira paid a 3% cash dividend for the first half of 2019, according to the data available on Argaam.