VOL. XLVI

No 34

25-August-2003

SAUDI ARABIA

REGIONAL BANKING

NCB $224Mn Dividend Payout Presages Share Issue, Say Analysts

Saudi Arabias Jiddah-based National Commercial Bank (NCB) has announced that it is to distribute a dividend of SR7 ($1.87) per share for the first half of 2003 a move which analysts say is a precursor to a new share issue for the bank. The decision to pay a dividend was taken by the banks board of directors, and is the first such move since 1997 when NCB became a shareholding...