Saudi Electricity Company announces the Board’s recommendation to distribute cash dividends to Shareholders for the fiscal year 2022
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of Saudi Electricity Company (SEC), in its meeting held on 22-08-1444H (14-03-2023), has recommended to the General Assembly of Shareholders to distribute a cash dividends to the shareholders for the fiscal year 2022 |
| Date of the board’s decision | 2023-03-14 Corresponding to 1444-08-22 |
| The Total amount distributed | 2,916,615,671 |
| Number of Shares Eligible for Dividends | 4,166,593,815 |
| Dividend per share | 0.70 SAR |
| Percentage of Dividend to the Share Par Value (%) | 7 % |
| Eligibility date | The eligibility of dividends distribution will be for shareholders of the Company who own shares at the end of the trading session of the General Assembly Meeting day, and are registered in the Company’s Shareholders Register maintained at the Securities Depository Center Company (Edaa) at the end of the second trading day following the eligibility date. |
| Distribution Date | The date of dividend distribution payment will be announced later. |
| Additional Information | In according to the provisions of Article (68) of the Income Tax Law and Article (63) of its Implementing Regulations, A non-resident in the Kingdom is subject to tax for any amount realized from a source in the Kingdom. the Company would like to draw the attention of the non-resident foreign investors that the cash dividends distribution which is transferred by the resident financial broker is subject to a withholding tax of 5%.
Accordingly, the Company assures non-resident foreign shareholders who have tax exemptions on dividends issued by the Zakat, Tax and Customs Authority to contact the Company within five (5) calendar days from the due date and provide the company with supporting documents related to the tax exemption. The company urges our respected shareholders to update their banking information to ensure the deposit of the cash dividends directly into their accounts.
For further inquiries, contact the Shareholders Affairs Department via: Telephone: +966118077202 Email: [email protected] |
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