AMAK BOD recommends distributing SR38.8 mln cash dividends for Q3

Almasane Alkobra Mining Company (AMAK) announced on Monday its Board of Directors’ recommendation on 13/11/2022 to distribute cash dividends to its shareholders for the third quarter of 2022.

It added that the total amount distributed is (SR38,842,432.20) Thirty-eight million, eight hundred and forty-two thousand four hundred and thirty-two Saudi riyals and twenty halala. The number of shares eligible for dividends is 64,737,387 shares. The dividend per share is 0.60 Halala. The percentage of dividends to the share par value (%) is 6 %.

The company said in a statement on Monday on Tadawul that the number of shares entitled to dividends is 64,737,387 shares, and the dividends disbursement date will be announced later.

The eligibility of dividend shall be for the shareholders who own the shares at the close of the market on Monday, 21/11/2022 (eligibility date), and who are registered in the Company’s shareholders register at the Securities Depository Center Company (Edaa) at the end of the second trading day following the eligibility date.

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 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.