RIYADH, 20 December 2003 — The Saudi British Bank (SABB) has announced a final net dividend of SR11 per share for 2003.
This follows the payment in August of an interim dividend of SR9 net per share, making a total net dividend for 2003 of SR 20 per share compared to SR16 last year.
The final net dividend for this year of SR11 per share will be distributed to shareholders upon the recommendations of SABB’s board of directors at the bank’s annual general meeting recently. Total gross dividends for 2003 will amount to SR832 million, which represents an increase of 25 percent over the total gross dividends distributed last year. Shaikh Abdullah Al-Hugail, chairman of The Saudi British Bank, said: “The increase in the dividend distribution is a result of the bank’s continuous efforts to grow return on shareholders funds. It also reflects recent successes, including the winning of two Euromoney awards — Best Bank in Saudi Arabia and Best Equity House in Saudi Arabia — and the successful management of the Saudi Telecom Company (STC) IPO in 2003.”