The General Bank of Riyadh agrees to distribute profits for the second half of 2024

The Board of Directors of Riyad Bank announced the results of the extraordinary general assembly meeting (the first meeting) that was held on Sunday.
The company said in a statement on Saudi Arabia’s circulation: The results of the General Assembly meeting included:
. See the report of the Board of Directors for the fiscal year ending December 31, 2024 AD after its discussion.
. See the financial statements for the fiscal year ending December 31, 2024 AD after discussing them.
. Approval of the bank account auditors report on the fiscal year ending December 31, 2024 AD after its discussion.
. Approval of the discipline of the members of the Board of Directors for the fiscal year ending on December 31, 2024 AD.
Approval of the payment of a reward for the members of the Board of Directors for an amount of (19,235,000) riyals for the fiscal year ending on December 31, 2024 AD.
. Approval of the recommendation of the Board of Directors to distribute cash dividends in the amount of (2,695,524,691) riyals to shareholders for the second half of the year 2024 AD by (90) halalas per share, which represents 9% of the nominal value of the share after the Zakat deduction, due to the arrows due to profits, which number (2,995,027,434) shares.
Provided that the right to shareholders owners of shares at the end of the trading on the day of the General Assembly and the registered in the bank shareholders’ record for the Securities Depository Center Company (deposit) at the end of the second trading day following the date of the General Assembly, provided that the distribution of profits begins from the day
Thursday 26 Shawwal 1446 AH corresponding to April 24, 2025 AD.
. Approval of the Board of Directors to distribute interim profits in a half / quarterly in the fiscal year ending on December 31, 2025 AD.
Approval of the appointment of external account audiences for the bank (KBMG Vocational Consulting Company) for 5,866,975 riyals that are not comprehensive of value -added tax, transportation and residence expenses to review the work of public administration, local branches and foreign bank branches, and to review contracts and transactions with the relevant parties conducted by the bank, Deluet & Tosh and their partners – accountants and legal auditors for an amount 4,085,000 riyals is not comprehensive of value -added tax, transportation and residence expenses, the work of the public administration and the local branches of the bank from among the candidates based on the recommendation of the review committee to examine, review and audit the financial statements for the second, third and annual quarter of the fiscal year ending on December 31, 2025 AD and the first quarter of the fiscal year ending on December 31, 2026 AD and providing tax and zakat services.
. Approval of the authorization of the Board of Directors with the validity of the ordinary general assembly with the license contained in paragraph (1) of Article 27 of the companies system, for a period of one year from the date of the approval of the General Assembly or until the end of the authorized board of directors, whichever is earlier, according to the conditions mentioned in
The executive regulations of the system of companies for the included joint stock companies.
Approval of social responsibility policy.
Approving the amendment of the regulations of the Nominations and Dependants Committee.
Approval of amending the candidacy and selection policy for membership of the Board of Directors and the committees emanating from it.
Approval of the business and contracts that will be carried out for the fiscal year ending on December 31, 2024 AD between the bank and the General Organization for Social Insurance, which is for a member of the Board of Directors of Riyad Bank Hani Abdullah Al -Juhani working in the investment immunity company, which is the investment arm of the general institution
Social insurance has an indirect interest in it, which is a lease contract number 20 parking in Granada Business – in Riyadh without special conditions or benefits, and the contract expires on 08/1425 AD, with an amount of (359,014) riyals.
. Approval of business and contracts that will take place for the fiscal year ending on December 31, 2024 AD between the bank and the General Organization for Social Insurance, which is for a member of the Board of Directors of Riyad Bank Hani Abdullah Al -Juhani (works in the investment immunity company, which is the investment arm of the General Corporation
For social insurance, an indirect interest in it, which is a contract for the lease of the public administration building (Granada Oasis) in Riyadh, without special conditions or benefits, and the contract expires on 08/1425 AD with a total amount of 48,320,742) riyals.
Approval of the bank’s purchase of its shares for (7,500,000) shares and keeping them a treasury cup, with the aim of allocating it to the staff stimulation stock program according to the requirements of the systems, provided that the purchase financing is from the bank’s self -resources, and the board of directors to complete the purchase process within a maximum period of 18
A month from the date of the unusual general assembly’s decision, and that the shares purchased for a period not exceeding (7) years from the date of the approval of the extraordinary general assembly are kept, and after the expiry of this period, the bank follows the procedures and controls stipulated in the relevant regulations and regulations.