The Chairman of Riyad Bank, Mr. Rashed Abdulaziz Al Rashed, announced that at todays meeting, The Board of Directors, decided to apply to the concerned authorities to increase its paid up capital to SAR 5 billion by way of issuing Bonus shares-1 share for every 4 shares held and also distributing a Cash Dividend of SAR 10 Riyals per Share for the second half of 2004. If approved, it will be recommended to the General Assembly Meeting that is expected to be held in the month of February 2005. The Bank has distributed an amount of SAR 640 million as interim dividend in the first half of 2004, representing SAR 8 per share. The remaining amount of SAR 800 million representing SAR 10 per share, will be distributed after the approval of the forthcoming General Assembly.
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