Banque Saudi Fransi announces the Board's recommendation to distribute dividends to shareholders for the Second Half of 2019
|Introduction||Banque Saudi Fransi announces the Board's recommendation to distribute dividends to shareholders for the Second Half of 2019|
|Board Resolution Date||2019-12-30 Corresponding to 1441-05-04|
|Total Amount of Dividend Distributed||SAR 1,199.68 Millions|
|Number of Shares Eligible for Dividends||1,199,678,888 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 2019 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.|
|Additional Information|| The Bank has distributed a net cash dividends of SAR 1,199.68 Million for the first half of the financial year 2019 to the shareholders registered in Depository Center at the end of the second trading day following the due date 08-11-1440 corresponding to 11-07-2019 for SAR 1.00 per share, which represents 10% of the share nominal value. Consequently, total net distributed dividends for the financial year ending 31-12-2019 amounting SAR 2,399.36 Million for SAR 2.00 per share which represents 20% 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.