Bank Albilad to mull FY14 cash dividend on April 14

22/03/2015 Argaam
Bank Albilad shareholders will meet on April 14 to consider the board’s recommendation to distribute a cash dividend at SAR 0.50 a share, or 5 percent of the stock’s nominal value, totaling SAR 200 million.
 
They will also discuss increasing the Saudi-listed bank's capital from SAR 4,000 million to SAR 5,000 million through a 25 percent bonus share distribution, or one bonus share for every four existing shares. If approved, the number of shares would be increased from 400 million to 500 million.
 
Shareholders will review the board’s report, auditor reports, and financial statements for the last fiscal year.
 
During the meeting, they also plan to discharge board members from liability for 2014, elect auditors for the coming fiscal year, and endorse the board’s bonuses and compensations.

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