ANB shareholders to approve dividend for H2

Arab National Bank (ANB) shareholders will vote on the board’s recommendation to pay a 6.5 percent dividend (SAR 0.65 a share) for H2 2017, at the general assembly meeting on April 2, 2018.

Shareholders of record on the general meeting date are entitled to receive this dividend, payable on April 17, the bank said in a bourse statement.

During the meeting, shareholders will also approve the 5.5 percent dividend (SAR 0.55 a share) paid in H1 2017.

Accordingly, ANB will pay a 12 percent dividend (SAR 1.20 a share), totaling SAR 1.2 billion for 2017.

Shareholders will also approve the board of directors’ report, an audit report, and all financial statements for 2017, the bank said.

In addition, the assembly will discharge board members from liability associated with their activities in 2017, and select an external auditor for 2018.

Other items on the agenda include approving the updated charters for the audit, nominations and remunerations committees; updated policies for board membership; as well as the remuneration policy for board members and executives.