The Saudi Awwal Bank announces the recommendation of the board of directors to distribute cash dividends to shareholders for the Second half of the fiscal year 2023
| Element List | Explanation |
|---|---|
| Introduction | The Saudi Awwal Bank announces the recommendation of the board of directors to distribute cash dividends to shareholders for the Second half of the fiscal year 2023. |
| Date of the board’s recommendation | 2024-02-10 Corresponding to 1445-07-29 |
| The Total amount distributed | SAR 2,014 Million |
| Number of Shares Eligible for Dividends | 2,054,794,522 Shares |
| Dividend per share | SAR 0.98 per share after deduction of Zakat |
| Percentage of Dividend to the Share Par Value (%) | 9.8 % |
| Eligibility date | The eligibility of dividends distribution for the second half will be for shareholders at the end of the day in which the Bank’s General Assembly is convened and who are registered in the Bank’s records at the Securities Depository Center Company (Edaa) at the end of the second trading day following the date of the General Assembly which will be announced later. |
| Distribution Date | The date of the dividends distribution 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 to distribute cash dividends to shareholders for the second half of 2023. |
| 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 his/her 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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