Riyadh Cement GA Approves Recommendation to Distribute SR90 mln Profits for 2H

The Riyadh Cement Company announced on Tuesday to its shareholders that the dividends will be distributed starting from Tuesday 31-05-2022 by direct transfer to bank accounts linked to shareholders’ investment portfolios.

The eligibility of dividend was for the shareholders who owned the shares as at the market close on Monday, 23-05-2022 (eligibility date) and who are registered in the Company’s shareholders register at Securities Depository Centre Company (Edaa) at the end of the second trading day following the eligibility date.

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 is deposited in their accounts with the banks on the distribution day.

The company concluded that: “We would like 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 withholding tax of 5%, in accordance with the provisions of article (68) of the income tax law and article (63) of its implementing regulation”.

This comes with reference to the announcement of Riyadh Cement Company on 23-12-2021 regarding distribute cash dividends to shareholders for the second half of 2021 at the rate of SR0.75 per share, which represents 7.5% of the par value of the share amounting to SR 90 million.