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Alawwal Bank Announces the Board of Directors Recommendation to Distribute Cash Dividend to Shareholders for the Financial Year 2017

ALAWWAL 1040 1.45% 19.58 0.28

The Board of Directors of Alawwal Bank resolved on 25-12-2017 to recommend to the shareholders General Assembly, which will be held in the first half of 2018, to distribute a cash dividend of SAR 0.25 per share net of zakat for the financial year 2017, representing 2.5 % of the nominal share value. The number of shares entitled to dividend are 1,143,072,000. The total distributed cash dividend net of zakat will amount to SAR 285,768,000.

The entitlement of the cash distribution shall be for the shareholders at the day of the General Assembly, which will be held in the first half of 2018, and for shareholders registered in the bank's share registry at the Depository Center (SDC) at the end of the second trading day following the General Assembly. An announcement will be made in regards to the date of dividend distribution in due course.

The bank wish to draw the attention of non-resident investors that cash distribution paid through resident financial broker is subject to a withholding tax of 5 % upon transfer to the non-resident investor or credit to its account in accordance with the provisions of Article (68) of the income Tax Law and Article (63) of its implementing regulations.