Saudi Aramco Base Oil Company - Luberef announces the Board of Director recommendation to distribute cash dividends to shareholders for the Second half of 2023
| Element List | Explanation |
|---|---|
| Introduction | Saudi Aramco Base Oil Company - Luberef announces the board of directors’ recommendation to distribute cash dividends to shareholders of SR 841,275,250 for the Second half of 2023. This brings the total distributions for 2023 to SAR 10 per share, which is approximately 80% of free cash flow and represents the upper limit according to the performance-linked distribution policy. |
| Date of the board’s recommendation | 2024-02-27 Corresponding to 1445-08-17 |
| The Total amount distributed | SR 841,275,250 |
| Number of Shares Eligible for Dividends | 168,255,050 |
| Dividend per share | 5 SAR |
| Percentage of Dividend to the Share Par Value (%) | 50 % |
| Eligibility date | The eligibility date of the dividends shall be at the end of the trading day of the Company General Assembly ( which will be announced at a later date). The distribution will be for the Shareholders who own the company shares on the Eligibility date and enrolled in the Company's register at Securities Depository Center Company (Edaa) by the end of the second trading day following the due date. |
| Distribution Date | During 15 Business days from eligibility date. |
| The name of other official authorities and the details of their non-refusal to the recommendation or decision | None |
| Additional Information | The company calls upon its Shareholders to quickly update their data and ensure that their bank account numbers are linked to their investment portfolios to ensure that their dividend are deposited in their accounts with the banks on the distribution day.
The company would like to draw the attention of non-resident investors, the dividend paid by the Company is subject to a withholding tax of 5% upon transfer to non-resident investors or credited to their bank accounts according to the provisions of Article (68) of the Income Tax Law and Article (63) of its Implementing Regulations.
Accordingly, the Company emphasize to non-resident shareholders who have tax exemptions on dividends issued by the Zakat, Tax and Customs Authority, to communicate this to the Company and provide the Company with all documents supporting the tax exemption.
For more inquiries, please contact Investor Relations Department at: Tel: 920003550 E-mail: [email protected] |
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