Saudi Arabia’s Riyad Bank recommends first half dividend of 0.35 riyals

Dubai: The board of Saudi Arabia’s Riyad Bank, the kingdom’s third-largest listed bank by assets, said on Sunday that it was recommending a dividend of 35 halalas (34 fils) per share for the first half of 2015.

That compares with a dividend of 38 halalas for the first half of 2014. The bank did not explain the drop. In April, the bank had posted an 8.6 per cent increase in its first-quarter net profit, citing a rise in operating income.