SABB board proposes $200m half-year dividend payout

RIYADH: The board of Saudi British Bank, known as SABB, has proposed the distribution of SR740 million ($200 million) in cash dividends for the second half of 2021.

Shareholders will receive SR0.36 per share, where the final distribution date will be announced later, SABB said in a bourse statement.

This brings the annual dividend payment to SR0.86 per share, given it has already paid out SR0.5 per share for the first half of the same year.

The step comes as the bank witnessed a massive profit leap for 2021, compared to a loss a year earlier.

With a solid financial performance, the bank swung from SR4.16 billion net loss to a profit of SR3.2 billion.