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Saudi’s Riyad Bank Recommends H2 2014 Dividend

Saudi’s Riyad Bank Recommends H2 2014 Dividend

The bank said that it will give a dividend of 35 halalas per share, down from 80 halalas from the same period last year.

The board of Saudi Arabia’s Riyad Bank, the kingdom’s third-largest listed bank by assets, said on Tuesday that it was recommending a dividend of 35 halalas per share for the second half of 2014.

That compares with a dividend of 80 halalas for the second half of 2013.

The bank did not explain the drop. It posted a 7.8 per cent rise in its 2014 third-quarter net profit to SAR1.08 billion ($287.8 million), in line with analysts’ average forecast.

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