Astra Industrial BOD Recommends Distributing SR120 mln Profits for 2021

Astra Industrial Group announced on Wednesday the Board of Directors’ recommendation to pass the distribution of cash dividends to shareholders for the fiscal year 2021, with a total distributed amount of SR120 million, provided that the share of the distribution is SR1.5, and a distribution ratio to the nominal value of the share is 15%.

The company said in a statement that the number of shares eligible for dividends and the distribution date will be announced later after approving the distribution of dividend by the General Assembly.

It added that the eligibility of dividends shall be for the shareholders who own the shares on the day of the general assembly meeting and registered in the Securities Depository Center on the closing of next trading day after the general assembly meeting, which will be announced later after getting the necessary approvals from the relevant authorities.

“We want to draw the attention of the non-resident foreign investors that the cash dividend distribution which is transferred by the resident financial broker is subject to (when transferred or credited to the bank account) withholding tax of 5%, in accordance with the provisions of article 68 of the income tax law and article 63 of its implementing regulation”, the company concluded.