Saudi bank ANB proposes 0.45 riyals share dividend for H1 2016

Dubai: Arab National Bank, Saudi Arabia’s seventh-largest lender by assets, has proposed paying a cash dividend of 0.45 riyals ($0.12) per share for the first half of 2016, it said in a bourse statement on Sunday.

The dividend would be the same as it paid in the corresponding period of last year.

The lender, 40 per cent owned by Jordan’s largest lender, Arab Bank Group, beat forecasts in the first quarter of 2016 despite reporting a 2.8 per cent year-on-year fall in net profit.