RIYADH, 14 June 2005 — The Saudi British Bank will distribute SR526 million as interim dividend for the first half of 2005.
“The bank’s board of directors has approved the distribution of a net interim dividend of SR10 per share (after deduction of Zakat),” chairman of The Saudi British Bank (SABB), Abdullah ibn Mohammed Al-Hugail, announced yesterday. He added that this will result in a total gross interim dividend payment of SR526 Million before deduction of Zakat, representing an increase of 11.8 percent over the same period last year.
Al-Hugail pointed out that the decision of the board of directors was within the framework of the bank’s plan to pay an interim dividend to enhance shareholders’ interests and achieve their aspirations.
According to Al-Hugail, dividends will be credited on Saturday, July 16 2005, to the accounts of shareholders on the bank’s share registry as on Thursday, July 7, 2005, who maintain accounts with SABB and whose details are available at the share registry.
Shareholders maintaining accounts with other local banks and who have provided details to the share registry will have dividends transferred to their respective accounts. As per Saudi Arabian Monetary Agency (SAMA) instructions, shareholders who have not provided the share registry with updated details and ID numbers should contact share registry or the nearest SABB branch with appropriate identification to update their details using the formats assigned for this purpose, before Wednesday, July 6, 2005.