The Saudi Awwal Bank Announces the Distribution of Cash Dividends to Shareholders For The First Half of The Fiscal Year 2023
| Element List | Explanation |
|---|---|
| Introduction | The Saudi Awwal Bank announces the board of directors resolution to distribute cash dividends to shareholders for the first half of the fiscal year 2023 |
| Date of the board’s decision | 2023-07-29 Corresponding to 1445-01-11 |
| The Total amount distributed | SAR 1,808 Million |
| Number of Shares Eligible for Dividends | 2,054,794,522 Shares |
| Dividend per share | SAR 0.88 per share for Saudi shareholders after deduction of Zakat |
| Percentage of Dividend to the Share Par Value (%) | 8.8 % |
| Eligibility date | The eligibility date shall be at the end of trading day, Sunday 13 August 2023 corresponding to 26 Muharram 1445H for the shareholders registered in the Depository Center (Edaa) at the end of the second trading day following the dividends eligibility date. |
| Distribution Date | Monday 28/08/2023G corresponding to 12/02/1445H |
| Additional Information | The Bank wishes 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 crediting the amount to its account in accordance with the provisions of Article (68) of the Income Tax Law and Article (63) of its Implementing Regulation.
Accordingly, the bank emphasizes to non-resident investors who have tax exemptions on dividends issued by the Zakat, Tax and Customs Authority, to communicate with the Bank Shareholders Registry Unit on Tel. No. 011 440 8440 to provide documents supporting tax exemption.
As for shareholders whose account details are not available or incomplete, they may visit the nearest SAB branch or contact the Shareholders Registry Unit on Tel. No. 011 440 8440 to update their information and arrange for receipt of their dividends. |
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