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TSMC’s H1 revenue up 40 percent

Robust demand for AI technology behind the surge.

‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

SAIB shares vault more than 2%

Telecommunications and commercial services rose 0.67 percent and professional sectors 0.67 percent in the Saudi Stock Exchange. AFP FILES PHOTO
By TRENDS Desk
July 25, 2022 12:31 pm
  • The bank’s stock touched SR20.88 on Sunday, up from an opening price of SR20.5
  • Last year, SAIB paid an annual dividend of SR0.7 per share – the highest in years after freezing dividends for two straight years

Saudi Investment Bank stock rose more than two percent after the bank announced cash dividends of $80 million for the first half of 2022.

The bank’s stock touched SR20.88 on Sunday, up from an opening price of SR20.5.

SAIB announced in a bourse filing that the per-share payout stands at SR0.30 which will be distributed to 1 billion eligible shareholders on Aug. 14,

Last year, SAIB paid an annual dividend of SR0.7 per share – the highest in years after freezing dividends for two straight years and distributing SR0.4 per share for 2020.

The Saudi-listed bank saw a 34-percent profit growth in the first quarter of 2022 which it attributed to higher operating income.

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