Banque Saudi Fransi approves 10.5% dividend for 2016

Banque Saudi Fransi’s (BSF) general assembly has approved issuing a 10.5 percent cash dividend (SAR 1.05 a share) totaling SAR 1.3 billion for fiscal year 2016, the bank said in a bourse statement on Sunday.

The Saudi lender paid a 5.5 percent cash dividend for H1 2016, and approved a 5 percent dividend (SAR 0.50 a share) totaling SAR 601.1 million for H2 2016.

Shareholders of record on the general meeting date are entitled to receive the dividend, which will be paid as of May 4, 2017.

During the meeting, shareholders approved the board of directors’ report, an audit report, and all financial statements for 2016. Board members were discharged from liabilities associated with their activities in 2016.

The bank also selected an external auditor for 2017, and approved SAR 3.3 million in board bonuses for 2016.