Saudi: Bank Albilad to pay over $166mln dividends for H1-24

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Riyadh: Bank Albilad announced interim cash dividends amounting to SAR 625 million, equivalent to 5% of the capital, for the first half (H1) of 2024.

The lender will distribute a dividend after Zakat valued at SAR 0.50 per share to 1.25 billion eligible shares, according to a bourse disclosure

Eligibility and disbursement dates for the H1-24 cash dividends will be 12 September and 3 October 2024, respectively.

In the first six months (6M) of 2024, Bank Albilad registered net profits valued at SAR 1.31 billion, an annual growth of 14.67% from SAR 1.14 billion.

Total assets increased by 7.30% to SAR 145.29 billion as of 30 June 2024 from SAR 135.40 billion in H1-23, while the investments grew by 2.09% to SAR 22.89 billion from SAR 22.42 billion.