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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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