GASCO BOD Distributes SR63.7 mln Cash Dividends for 1st Half of Fiscal Year 2022

National Gas and Industrialization Co. (GASCO) announced the decision of the Board of Directors to distribute SR63.7 million of cash dividends to shareholders for the first half of the fiscal year 2022, equivalent to 8.5% of the nominal value of the share.

The Company indicated that the number of shares eligible for dividends is 75 million shares, at a rate of SR0.85 per share.

The eligibility of the dividends shall be at the end of the trading day on Thursday 15/09/2022, for the shareholders registered in the Depository Center (Edaa) at the end of the second trading day following the eligibility date. In addition, the distribution date shall be on September 29, 2022.

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.

“We would like to draw the attention of 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.” the company said.