Riyad Bank shareholders to vote on 5.5% dividend for H2 2019 on March 25

Riyad Bank’s shareholders will vote on March 25 on the board’s proposal for distributing a 5.5% cash dividend, or SAR 0.55 per share, for H2 2019, the bank said in a statement to Tadawul.

The dividend will be distributed to eligible shareholders registered at the Security Depository Center (Edaa) by the end of the second trading day after the meeting date.

Riyad Bank’s shareholders will vote on board remuneration of SAR 5.48 million and the discharge of board directors from liability for fiscal year 2019.

The board report, financial statements and external auditor’s report for fiscal year 2019 will be also reviewed.

The shareholders will also vote on hiring an external auditor for the current fiscal year.

They will also vote on ratifying the bank’s contracts with the General Organization for Social Insurance (GOSI), Saudi Telecom Co. (STC), Etihad Etisalat Co. (Mobily), and Dur Hospitality.

Other items on the agenda include amendments to the audit, nomination and compensation committees charter, the statement added.