Riyad Bank, one of the largest financial institutions in Saudi Arabia, said its investment banking arm is set to distribute dividends worth SR15 million ($4 million) to the unitholders of its real estate investment traded funds (REITs) for the period covering the second half of 2017.

A leading player in the kingdom, Riyad Bank ranks third in terms of asset value.

The dividend per unit SR0.30 represents three per cent of the Face Value, said the bank in its filing to the Saudi bourse Tadawul.

Dividend represents 2.9 per cent of net asset attribute to unitholders as of June 30, 2017. The eligibility of dividends shall be for the unitholders in the register on February 18, 2018, it added.-TradeArabia News Service