11th Dec 2007 15:00
HSBC Holdings PLC11 December 2007 The following is a translation of a news release issued by The Saudi BritishBank (SABB), a 40 per cent indirectly-held associate of HSBC Holdings plc. SABB RECOMMENDS FINAL NET DIVIDEND OF SAR2.22 PER SHARE FOR THE SECOND HALF OF 2007 The Board of Directors of SABB has recommended a final net dividend of SAR2.22(US$0.59) per share for the second half of 2007. The total gross dividend forthe full financial year 2007 will amount to SAR1,500 million (US$400 million).This follows the payment earlier in the year of an interim dividend for 2007 ofSAR1.535 (US$0.41) net per share. The final net dividend of SAR2.22 per share will be distributed to shareholdersupon approval of the Board's recommendations at the bank's Annual GeneralMeeting, and the approval of the official authorities. The SABB Board of Directors has also decided to recommend to an ExtraordinaryGeneral Meeting, scheduled to be held during the first half of 2008 afterobtaining the necessary regulatory approvals, the increase of SABB's paidcapital from SAR3,750 million (US$1,000 million) to SAR6,000 million (US$1,600million), by issuing three bonus shares for each five shares held, an increaseof 60 per cent. Note to editors: HSBC Holdings plcHSBC Holdings plc serves over 125 million customers worldwide through around10,000 offices in 83 countries and territories in Europe, the Asia-Pacificregion, the Americas, the Middle East and Africa. With assets of some US$2,150billion at 30 June 2007, HSBC is one of the world's largest banking andfinancial services organisations. HSBC is marketed worldwide as 'the world'slocal bank'. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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