Saturday, 13 April 2024

March 24.. Al Rajhi Bank GA to discuss distributing 4.6 billion riyals in cash dividends for H2, 2023

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اقرأ المزيد

Al Rajhi Bank invited shareholders to participate and vote in the fifteenth extraordinary general assembly meeting (first meeting), scheduled to be held on March 24. The assembly will discuss voting on the Board of Directors’ recommendation to distribute cash dividends to shareholders for the second half of the fiscal year ending on December 31 in the amount of 4.6 billion riyals, at a rate of 1.15 million riyals. One riyal per share, which represents 11.5% of the nominal value of the share. Thus, the total dividends distributed for the financial year ending on December 31 become an amount of 9.2 billion riyals, at 2.30 riyals per share, which represents 23% of the nominal value of the share. It was decided that the distribution would take place on April 3.

The right to attend is for shareholders registered in the bank’s shareholder register at the deposit center at the end of the trading session that precedes the general assembly meeting, in accordance with the rules and regulations.

The right to register attendance at the association meeting ends at the time of the association meeting.

The right to vote on the assembly’s items for those present ends when the screening committee finishes counting the votes.

According to Article (34) of the bank’s bylaws, the quorum for holding the bank’s extraordinary general assembly meeting is the presence of shareholders representing at least 50% of the capital. If the quorum is not reached at this meeting, a second meeting will be held after one hour. From the time scheduled for holding the first meeting, the second meeting will be valid if it is attended by a number of shareholders representing at least 25% of the capital.

The shareholder has the right to discuss the topics on the General Assembly’s agenda, ask questions, and how to exercise the right to vote. Honorable shareholders have the right to discuss the topics included in the General Assembly’s agenda and direct questions to the members of the Board of Directors, noting that voting in Tadawulati services is available free of charge to all shareholders.

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