Saudi British Bank Dividend D

RNS Number : 1874A

HSBC Holdings PLC

27 January 2011

 



The following news release was issued yesterday by The Saudi British Bank (SABB), a 40 per cent indirectly held associate of HSBC Holdings plc.

27 January 2011

SABB ANNOUNCES ITS BOARD OF DIRECTORS'

RECOMMENDATION TO PAY

ANNUAL DIVIDEND FOR THE FINANCIAL YEAR 2010

The Board of Directors of SABB announced that it has recommended to the General Assembly the distribution of a gross dividend of SAR562.5 million for the financial year ending 31 December 2010 (Gregorian). The net dividend after deduction of Zakat will be SAR0.68 per share. The eligibility of the distribution of dividends will be for the shareholders registered in the Bank's shareholders' register at the end of trading on the day in which the General Assembly is held, which is during the first quarter of 2011, after obtaining required approvals.

Media enquiries to Ibrahim Abo-Mouti on [phone] or at [e-mail]

Note to editors:

The HSBC Group

HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 8,000 offices in 86 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With assets of US$2,418 billion at 30 June 2010, HSBC is one of the world's largest banking and financial services organisations. HSBC is marketed worldwide as 'the world's local bank'.

 

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