Riyad Bank shareholders to vote on 5% dividend for 2020 on March 23

Riyad Bank shareholders are set to vote on the board's recommendation on distributing cash dividend for 2020, during the ordinary general assembly meeting (OGM) to be held on March 23, 2021.

The board recommended distributing 5% cash dividend, or SAR 0.5 per share, amounting to SAR 1.5 billion for 2020.

Eligibility for the cash dividends will be for the shareholders who own the shares by the end of the OGM day and those registered in the bank's shareholders register at the Securities Depository Centre Co. (Edaa) at the end of the second trading day following the maturity date.

The dividend distribution is expected to start on April 6, 2021.

Shareholders will also vote on the board of director’s report and financial statements for 2020.

They will also discharge the board members for 2020, approve the board members' remunerations, as well as appoint auditors for 2021.

Shareholders will be able to vote on the OGM agenda from March 19 through the Tadawulaty system.