NCB calls EGM to approve capital hike, dividend May 15

National Commercial Bank (NCB) has called an extraordinary general assembly meeting on May 15 to seek shareholders’ approval for increasing its share capital.

In February, the lender said it had received the approval from the Capital Market Authority (CMA) to raise its capital from SAR 20 billion to SAR 30 billion.

The NCB shareholders will also vote on board of directors’ recommendation on a 6 percent cash dividend, at SAR 0.60 per share, for the second half of 2017, the bank said in a statement to Tadawul.

Shareholders will also appoint an external auditor for the current year, approve the board remuneration and discharge the board members from liability for their activities in 2017.