The Chairman of Riyad Bank, Mr. Rashed Abdulaziz Al Rashed, announced that at todays meeting, The Board of Directors, has recommended to the General Assembly the distribution of SAR 1360 million as dividends for the year 2003 representing SAR 17 per share, an increase of 9.68% above last year. The Bank has distributed an amount of SAR 640 million as interim dividend in the first half of 2003, representing SAR 8 per share. The remaining amount of SAR 720 million representing SAR 9 per share, will be distributed after the approval of the forthcoming General Assembly. Mr. Al-Rashed added that this increase in the dividend distribution comes as a result of the anticipated increase in the net income of the Bank to be around 12% above last year. Mr. Al-Rashed emphasized the continuous and active role of the Bank in increasing the Return on Shareholders Funds and achieving their goals. On this occasion, Mr. Al-Rashed called on the Shareholders to invest the pending dividends in the Investment Funds managed by the Bank. The Bank has recorded outstanding success in managing these Funds by winning a number of awards as the Best Manager to these Funds for five successive years.
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.