SABB to vote on H2 2018 dividend in April

Saudi British Bank’s (SABB) shareholders will vote on the board’s proposal for a 10 percent cash dividend, to be issued at SAR 1 per share for H2 2018 on Apr. 1, 2019, the company said in a bourse statement on Tuesday.

The dividend will total SAR 1.5 billion and will be distributed to eligible shareholders registered at the Security Depository Center on Apr. 3.

The bank will begin dividend payment on Apr. 10, the statement added.

Shareholders will also discuss authorizing the board of directors to pay quarterly or semiannual dividends for the current fiscal year.

The general assembly will vote on board remuneration of SAR 4.6 million and the discharge of board directors from liability for previous year.

The board report, financial statements and external auditor’s report for fiscal year 2018 will be also reviewed. 

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