Banque Saudi Fransi Says Recommends Cash Dividend For H2 2014

The bank said that it recommended a cash dividend of SAR0.5 per share ($0.13) for the second half of 2014.



Banque Saudi Fransi, Saudi Arabia’s fifth-largest bank by assets, said in a bourse filing on Wednesday its board had recommended a cash dividend of SAR0.5 per share ($0.13) for the second half of 2014.

The bank, partially owned by Credit Agricole, didn’t pay a cash dividend last year, according to Thomson Reuters data, after reporting a 66 per cent slump in fourth-quarter net profit on higher provisioning.

However, it did complete a bonus share issue, which gave one free share to shareholders for every three held, to help support future growth plans.

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