Riyadh –  The board members of Alinma Bank announced cash dividends after Zakat valued at SAR 498.04 million, equivalent to 2.50% of the capital, for the first quarter (Q1) of 2023.

The lender will pay out a dividend worth SAR 0.25 per share for 1.99 billion eligible shares, according to a bourse disclosure.

Eligibility and distribution dates for the Q1-23 dividends will be 29 May and 12 June 2023, respectively.

It is worth noting that the bank’s board determined the dividends during its meeting on 15 May.

During the first three months (3M) of 2023, the net profits of Alinma Bank surged by 17.61% to SAR 969.90 million from SAR 824.70 million in Q1-22.

The earnings per share (EPS) amounted to SAR 0.46 as of 31 March 2023, up from SAR 0.41 in the year-ago period.

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