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RIYADH: Shares in Saudi Arabia’s Alinma Bank dropped on Thursday, despite getting shareholders’ approval for SR795 million ($212 million) half-year dividends.
The share price fell by 2.2 percent to SR40.8, as of 12:27 p.m. Riyadh time.
Earlier in the day, the ordinary general meeting of the bank approved a cash dividend payout of SR0.4 per share for the second half of 2021, according to a bourse filing.
Profits of Alinma Bank soared by 38 percent to SR2.7 billion in 2021, propelled by higher operating income.