• 2.4 billion SR stocks for 3 government institutions from cash dividends to 5 local banks


                  Five local banks announced that the cash dividends by 63.3 percent for the first half of the current year 2017 compared to the same time last year.
    According to a report by Al Eqtisadia, the recommended distributions of the five banks amounted to 7.49 billion riyals, compared to cash dividends of 4.58 billion riyals, or 2.91 billion riyals, according to data issued by the banks via Tadawul.
    The jump in the cash dividends of the declared banks is significant compared to the growth of the past years, where the dividends jumped Al Rajhi 100 percent, and Saudi French by 90 percent and 83 percent of the Al Ahli Bank.
    These distributions reflect the financial strength of the banking sector in Saudi Arabia and are expected to be reflected in increased investment opportunities in the sector, especially as these distributions increase the returns, enhancing the opportunities and tools of these banks.
    It is also expected that these distributions will be reflected directly and indirectly by injecting new liquidity. In addition, the rest of the banks are expected to continue this approach by increasing the rate of distribution if there are no opportunities for investment and growth as well as remaining assets.
    These cash dividends reflected the three most important owners of the banks. The Public Investment Fund, the Social Insurance Fund and the Pension Fund accounted for 31.9% of these allocations, reaching SR 2.38 billion in the first half of this year compared to SR 1.53 billion for the same period last year, last year and an increase of 978.4 million riyals.
    The sharing of the Public Investment Fund from the cash dividends amounted to about SR 1.2 billion representing about 16% of the total distributions of the five banks. The share of social insurance amounted to about 870.7 million riyals representing about 11.6% of the distributions and about 316.9 million riyals About 4.2 per cent of the declared allocations to the five banks.
    According to the analysis, June earnings are expected to be around 3.77 billion riyals, making second-quarter profits near 11.47 billion riyals, about 1 percent below the corresponding period. From last year.
    During the first quarter of this year, Saudi banks had a net profit of about 11.65 billion riyals, the third highest quarter profit since 2008.

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