Saudi National Bank shares jump on bumper dividend and board appointees

DUBAI: Saudi National Bank shares jumped early Sunday after the lender announced a bumper dividend payout and revealed new board appointments.
The stock was up 2.7 percent by 11:20 a.m. in the Kingdom after it said it would pay out more than SR3.58 billion ($953 million) in dividends to shareholders of the recently merged lender.
The payout equates to 8 percent, the bank said in a regulatory filing on Sunday. Details about its distribution date will be announced at a later date, it said.