ANB BOD Distributes SR675 Million Profits for 2021 Second Half

Arab National Bank (ANB) announced on Wednesday the recommendation of the Board of Directors on 12.21.2021 to the Extraordinary General Assembly to approve the distribution of interim cash dividends to the bank’s shareholders for the second half of 2021.

The Total amount distributed SR675 Million. The Dividend per share is 0.45 Halalah after deduction of Zakat. The percentage of dividend to the share par value (%) is 4.5%.

The Securities Depository Center Company indicated on Tadawul on Wednesday that the number of shares eligible for dividends is 1,500,000,000 shares. The distribution date will be announced later.

For the bank’s shareholders who own shares at the end of the day of the general assembly and who are registered with the Securities Depository Center Company at the end of the second trading day from the date of the assembly to be held during the first quarter of 2022.

This is in addition to what was distributed in the amount of SR525 million for the first half of 2021. Thus, the total amount that were distributed and will be distributed for the fiscal year 2021 is SR1200 million at (0.80) Halalah per share, which represents 8% of the nominal share value after deducting zakat.

The company added that it wants to draw the attention of the non-resident foreign investors that the cash dividend distributed, which is transferred by the resident financial broker, is subject (when transferred or credited to the non-resident foreign investor’s bank account) to a withholding tax of 5%, in accordance with the provisions of Article 68 of the Income Tax Law and Article 63 of its Implementing Regulations.

On this occasion, the bank wants to remind its shareholders to ensure that their dividends against previous years are received. Shareholders holding share certificates must deposit these certificates in their investment portfolios. They can communicate with the Shareholders Affairs Department or approach the nearest ANB branch to update their addresses, and ensure their profits from previous years are collected, the company concluded.