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.