JEDDAH, 6 July 2005 — The National Commercial Bank (NCB) has distributed profits to 86,000 shareholders for four publicly listed companies: 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 SR845.6 million. 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 SR411.3 million in their investment portfolios on the same day as the dividend distribution. As for non-account holders, 2,289 shareholders with a total of SR38.4 million received the dividends through bank checks and the remaining 57,713 shareholders with a total amount of SR395.9 million, NCB distributed cash directly to them via NCB branch network spread throughout the Kingdom.
Al-Jabri stated that the more than 90 percent of the shareholders received their dividends during the first 5 working days from the assigned date of distribution.
Al-Jabri expressed his appreciation of the trust given to NCB to undertake such large scale activities on behalf of the companies and said that NCB had developed a state of the art automated service for dividend distribution for publicly listed companies. Ha added that it facilitated the distribution process for both the companies and shareholders and met 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.