Samba Distributes SR 1.102 Billion in Dividends for the Second Half of 2006
M. Eisa M. Al Eisa, Managing Director and Chief Executive Officer of Samba Financial Group, announced that the Board of Directors has recommended to the Shareholders Annual Meeting to approve dividends for the second half of 2006 totaling to SR 1,102, at SR 1.7 per share (net of Zakat). Should the Shareholders Annual Meeting approves the Board's recommendations, this will bring the annual earnings per share to SR 3.4 (net of Zakat) and accordingly the total dividends of 2006 will jump to SR 2,171, compared to SR 1,783 in 2005 an annual increase of 22%.
Al-Eisa expressed his gratitude to Samba's shareholders for their confidence and loyalty. "I am delighted to announce these highest ever dividends distributed by Samba" says Al-Eisa who commended the bank strategies that reflect on its financial position and net income growth. "We have launched several innovative initiatives which we trust will boost our investments and business steadily. We will proceed with our approach having in mind our main objective to enhance our pioneering role as a premier financial services provider and grow and add value to the investments of our shareholders" Al-Eisa was quoted as saying.