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Almarai to distribute dividends at SAR0.9/shr

Almarai to distribute dividends at SAR0.9/shr
Distributed dividends will total SAR 720 million - (Photo Archive)
ALMARAI
2280
3.62% 57.20 2.00

Riyadh - Mubasher: The board of Almarai Company decided during its meeting on Tuesday to recommend to the distribution of cash dividends for 2016 at SAR 0.9 per share of 9% of capital, according to a bourse filing.

Distributed dividends will total SAR 720 million, and will be based on the 800 million existing shares.

The distribution is limited to the shareholders who are registered in Tadawul at the close of trading on the general shareholders assembly day, the statement indicated.

The date of the general assembly meeting will be determined after obtaining the formal approval for the related government agencies.

Similarly, the date of cash dividend payment will be confirmed after getting the approval of the general assembly.

Almarai also calrified that for foreign non-resident investors the dividend paid by the company is subject to a withholding tax of 5% upon transfer to the nonresident investor or credit to its account.