Saudi Automotive Services Company (SASCO) announces the Board of Directors’ recommendation to distribute (additional) cash dividends to shareholders for the fiscal year 2023
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of Saudi Automotive Services Company (SASCO) on 27 March 2024 has recommended to General Assembly a distribution of additional cash dividend to shareholders for the fiscal year 2023 as follows: |
| Date of the board’s recommendation | 2024-03-27 Corresponding to 1445-09-17 |
| The Total amount distributed | SAR 45,000,000 |
| Number of Shares Eligible for Dividends | 60,000,000 Shares |
| Dividend per share | SAR 0.75 |
| Percentage of Dividend to the Share Par Value (%) | 7.5 % |
| Eligibility date | The eligibility of dividends shall be for the shareholders registered in the Securities Depository Center (Edaa) at the end of the second trading day following the date of the General Assembly (which will be announced later). |
| Distribution Date | Will be announced later |
| The name of other official authorities and the details of their non-refusal to the recommendation or decision | Not applicable |
| Additional Information | SASCO refer that it had distributed interim dividends to the shareholders for the first half of 2023 (0.50 SAR) per share, equivalent to 5% of the company's capital, with a total amount of (30 million SAR).
So the total cash dividends for the year 2023 (after approval of additional dividend) will be (1.25 SAR) equivalent 12.5% of the company's capital. SASCO remind the shareholders to update their investment portfolios account information to ensure the receipt of their dividends. SASCO also request from shareholders who own shares as per shares certificates to deposit such certificates in their investment portfolio in order to ensure the receipt of their dividends. |
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