Samba shareholders approve 10% dividend for H2 2018

Samba Financial Group’s (Samba) shareholders approved on Monday the board of directors’ proposal for a 10 percent cash dividend, to be issued at SAR 1 per share for the second half of 2018, totaling SAR 2.32 billion, the lender said in a bourse statement.

They also approved the distribution of cash dividends for H1 2018 at a total value of SAR 1.9 billion, or SAR 0.80 per share, bringing the full-year dividend to SAR 4.23 billion (SAR 1.80 per share).  

The shareholders approved the board’s remuneration of SAR 4.8 million and their discharge from liability for previous year.

The general assembly also approved the board report, financial statements and external auditor’s report for fiscal year 2018, as well as hiring the external auditor for Q1, Q2, Q3 and fiscal year of 2019.

During the meeting, the internal auditing committee was formed for the new three-year term starting from March 25, 2019.