Samba approves 9.5% cash dividend for 2016

Samba Financial Group’s shareholders approved a 9.5 percent cash dividend (SAR 0.95 a share) totaling SAR 2.4 billion for fiscal year 2016, at the bank’s extraordinary general assembly meeting on April 30, the bank said in a statement to Tadawul on Monday.

Shareholders of record on the general meeting date are eligible to receive dividend, which will be paid on May 16, 2017.

During the meeting, shareholders also approved the board of directors’ report, an audit report, and consolidated financial statements for 2016.

Moreover, shareholders discharged board members from liability associated with their activities in 2016, and selected an external auditor for 2017.