Banque Saudi Fransi announces the Board of Directors' recommendation to distribute cash dividends to shareholders for the Second Half of 2023
| Element List | Explanation |
|---|---|
| Introduction | Banque Saudi Fransi announces the Board of Directors' recommendation to distribute cash dividends to shareholders for the Second Half of 2023 |
| Date of the board’s recommendation | 2024-02-05 Corresponding to 1445-07-24 |
| The Total amount distributed | SAR 1,197.74 Million |
| Number of Shares Eligible for Dividends | 1,197,737,597 Shares |
| Dividend per share | SAR 1.00 after deduction of Zakat |
| Percentage of Dividend to the Share Par Value (%) | 10 % |
| Eligibility date | The entitlement of the dividends for the second half of the year 2023 shall be for the shareholders registered in Depository Center at the end of the second trading day following the General Assembly Meeting, which will be announced later. |
| Distribution Date | Details of the General Assembly Meeting and dividend distribution dates will be announced later. |
| The name of other official authorities and the details of their non-refusal to the recommendation or decision | It should be noted that the Bank has obtained no-objection from the Saudi Central Bank dated 05-02-2024 Corresponding to 24-07-1445 on the Board of Directors’ recommendation to distribute cash dividends to shareholders. |
| Additional Information | The Bank has distributed a net cash dividends of SAR 1,140 Million for the first half of the financial year 2023 to the shareholders registered in Depository Center at the end of the second trading day following the due date 16-01-1445 corresponding to 03-08-2023 for SAR 0.95 per share, which represents 9.5% of the share nominal value. Consequently, total net distributed dividends for the financial year ending 31-12-2023 amounting SAR 2,338 Million for SAR 1.95 per share which represents 19.50% of the share nominal value.
We would like to draw the attention of the non-resident foreign investors that the cash dividend distribution which is transferred by the resident financial broker is subject to (when transferred or credited to the bank account) withholding tax of 5%, in accordance with the provisions of article 68 of the income tax law and article 63 of its implementing regulation. |
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