Saudia Dairy and Foodstuff Co. ("SADAFCO") announces the board of director’s decision to distribute cash dividends for the first half ended 30-Sep-2023
| Element List | Explanation |
|---|---|
| Introduction | Saudia Dairy & Foodstuff Co. (SADAFCO) is pleased to announce its Board of Directors’ decision to distribute cash dividends to the shareholders for the first six months of the short fiscal year ending 31 December 2023 as detailed below.
This dividend is a reflection of the extremely healthy and conservative capital structure as shown by cash, Murabaha deposits, retained earnings, and no external debt.
This distribution reflects our commitment to shareholders’ towards generating excellent total shareholder return, while maintaining sufficient liquidity and capital structure strength to reinvest in company growth and explore M&A opportunities to further expand the Company’s business. |
| Date of the board’s decision | 2024-02-27 Corresponding to 1445-08-17 |
| The Total amount distributed | SAR 192,000,000 |
| Number of Shares Eligible for Dividends | 31,999,750 Shares |
| Dividend per share | SAR 6.00 |
| Percentage of Dividend to the Share Par Value (%) | 60 % |
| Eligibility date | 29-Feb-2024 |
| Distribution Date | 19-Mar-2024 |
| The name of other official authorities and the details of their non-refusal to the recommendation or decision | Not Applicable |
| Additional Information | The Company requests its shareholders to update their data and ensure that their bank account numbers are linked to their investment portfolios to ensure that their dividend is deposited in their accounts with the banks on the distribution day.
We would like to draw the attention to the foreign non-resident investors that the dividends paid by the Company are subject to a withholding tax of 5% upon transfer to the non-resident investor or credit to its account pursuant to Article (68) of the Income Tax Law and Article (63) of the Implementing Regulations. |
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