Saudi Electricity Company announces the Board’s recommendation to distribute cash dividends to Shareholders for the fiscal year 2023
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of Saudi Electricity Company (SEC), in its meeting held on 24-08-1445H (05-03-2024), has recommended to the General Assembly of Shareholders to distribute a cash dividends to the shareholders for the fiscal year 2023. |
| Date of the board’s recommendation | 2024-03-05 Corresponding to 1445-08-24 |
| The Total amount distributed | 2,916,615,670.5 |
| 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 cash dividends distribution shall be for the shareholders registered at the end of the second trading day after the General Assembly Meeting day, which will be announced later. |
| Distribution Date | The date of dividend distribution payment will be announced late |
| The name of other official authorities and the details of their non-refusal to the recommendation or decision | NA |
| 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: Email: [email protected] |
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