Saudi’s Al Rajhi Bank to distribute $600m dividend
Al Rajhi Bank will reportedly distribute dividends worth SR2.25bn ($599.9m) for the first six months of 2013. This is equivalent to 1.5 riyals per share. The amount is slightly higher than the 1.25 riyals per share which the bank paid last year. Separately, Banque Saudi Fransi said it would distribute dividends worth SR361.6m ($96.4m) for the first six months of the year. This equates to 0.4 riyals per share. In 2012, Banque Saudi Fransi paid a full-year dividend of 0.8 riyals per share, indicating that this year’s payment is in line with that made last year. Al Rajhi is expected to release its second-quarter earnings around July 16.