Jeddah-The National Commercial Bank (NCB) distributed profits to 86,000 shareholders for four publicly listed companies which are; Yanbu Cement Company, National Gas & Industrialization Company, Saudi Electricity Company and The National Shipping Co. of Saudi Arabia.
The total amount of dividends mounted to SR 845.6 Million.Mr. Hasan Al-Jabri NCB’s Country Head for the Corporate Banking Group added that the distribution of dividends included Direct Deposit for 26,043 shareholders for a total amount of SR 411.3Million in their investment portfolios in the same day of the Dividend distribution. As for non-account holders, 2,289 shareholders with a total of SR 38.4 Million receive the dividends through the bank cheques and the remaining 57,713 shareholders with a total amount of SR 395.9 Million, NCB distributed cash directly to them via NCB branch network spread all over the kingdom.
Mr. Al-Jabri stated that the bank accomplished more than 90% of the shareholders distribution process during the first 5 working days from the assigned date of distribution.
Mr. Al-Jabri expressed his appreciation of the trust given to NCB to undertake such large scale activities on behalf of the companies, and expressing that NCB has developed a state of the art Automated service for Dividend Distribution for publicly listed companies to facilitate the distribution process for both the companies and shareholders, to meet the demand in keeping with the increasing growth in the Saudi Stock market and the number of shareholders and providing the best services to NCB Publicly listed companies.
He added that the ease of the process, despite the large number of shareholders, confirms the exceptional services provided by NCB by employing the latest banking technology and the strong collaboration between all parties involved.