Al Yamamah BOD Distributes SR51 Million Profits for Second Half

Al Yamamah Steel Industries Company announced on Monday the resolution of the Board of Directors to distribute cash dividends to the Company’s shareholders for the second half of the fiscal year ended September 30, 2021. The total amount distributed is SR 50,800,000.

The dividend per share is SAR1.00 per share. The percentage of dividend to the share par value (%) is 10 %.

The Company indicated on Tadawul on Monday that number of shares eligible for dividends is 50,800,000 shares and the distribution date is     Wednesday 12.01.2022.

The Company said that the eligibility date will be on Thursday 30-12-2021. The eligibility is for shareholders who own the shares on the date of eligibility and who are registered in the company’s shareholders’ register at Securities Depository Center Company (Edaa) by the end of second trading day following the eligibility date.

The Company also distributed cash dividends amounted SR38,100,000 for the first half of the fiscal year ended September 30, 2021 in June 2021, at SR0.75 per share, 7.50% of capital, to let the total distributed cash dividends for the fiscal year ended September 30, 2021 be SAR88,900,000 at SAR1.75 per share, 17.50% of capital.

The Company calls upon its Shareholders to quickly update their data and IBANs and to 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.

The Company wants to inform the foreign nonresident shareholders that the distributed cash dividends which will be transferred through the local financial broker are subject to 5% withholding tax at transfer or recording withholding tax in accordance with the provisions of Article (68) of the tax system and Article (63) of its implementing regulations.