Riyad Bank GA Discusses BOD Recommendation to Distribute SR1.62 bln Profits For 2H

The Board of Directors of Riyad Bank invited its shareholders to attend the Extraordinary General Assembly Meeting (First Meeting) scheduled to be held on Tuesday, 12.04.2022 (by personal attendance, and virtual.

It added that this is in support of the preventive and precautionary efforts and measures exerted by the competent and relevant health authorities to address the emerging Corona Virus (COVID-19), and as an extension of the continuous efforts exerted by all government agencies in the Kingdom of Saudi Arabia to take the necessary preventive measures to prevent its spread.

It also added that shareholders registered in the issuer’s shareholder register at the Depository Center are entitled to attend at the end of the trading session preceding General Assembly’s Meeting as per Laws and Regulations.

It explained that electronic voting will start on Saturday, 09.04.2022 and will end once the Ordinary General Meeting ended. Shareholders registered in Tadawulaty system will be able to vote remotely via the website http://www.tadawulaty.com.sa.

Tadawulaty registration and voting on the General Assembly meeting agenda items is free of charge.

-Voting on the board of directors’ recommendation to distribute cash dividends of SR1.62 billion for the second half of the fiscal year ending on 31.12.2021 at 54 halalas per share and 5.4% of the capital, provided that the eligibility is for the shareholders who own the shares at the end of trading on the day of the general assembly meeting. Those who are registered in the shareholders’ register with the Securities Depository Center Company at the end of the second trading day following the due date, provided that dividends are distributed as of Monday 25.04.2022.

1. To vote on authorizing the Board of Directors to distribute interim dividends on a semi-/quarterly basis for the year 2022.

Eligibility for registering the attendance of the General Assembly’s Meeting ends upon the convenience of the general assembly’s meeting. Eligibility for voting on the business of the meeting agenda ends upon the counting committee concludes counting the votes.

As per Article (31) of the Bank Articles of Association, the Quorum for holding the Extraordinary meeting will be half of the share capital. In case of non-completion of the quorum at this meeting, a second meeting will be held within one hour of the scheduled time for the first meeting, and The second meeting will be valid be quarter of the shareholding capital.

Additional Information:

All documents related to the agenda items above, are available on the bank’s website.