The shareholders of Saudi Investment Bank (SAIB) approved the board’s recommendation to disburse cash dividends worth SAR 450 million for the second half (H2) of 2022.

SAIB will grant SAR 0.45 per share, equivalent to 4.50% of the share nominal value, for eligible shares on 30 April 2023.

The shareholders greenlighted the dividends proposal during the ordinary general meeting (OGM) that was held on 10 April, according to a bourse filing.

Last year, the Saudi lender achieved SAR 1.50 billion in net profit, higher by 42.03% than SAR 1.06 billion in 2021.

The earnings per share (EPS) increased to SAR 1.37 in 2022 from SAR 0.99 as of 31 Dec