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.