Saudi Networker GA approves distributing cash dividends for H1

Saudi Networker Services company announced approval of the ordinary general assembly (first meeting) on the Board of Director’s recommendation to distribute cash dividends for the first half of FY 2023 at an amount of SAR 12 million, with SAR 2 per share.

The company stated on Tuesday on Tadawul that the eligibility for dividends is for shareholders who own shares at the end of trading on the day of the General Assembly and who are registered in the company’s shareholder register at the Securities Depository Centre (EDAA) at the end of the second trading day following the entitlement date.

The company also announced that cash dividends will be distributed starting on Sunday corresponding to 22.10.2023 by direct transfer to the bank accounts linked to the shareholders’ investment portfolios.

The company would like to draw the attention of non-resident foreign investors to the cash distributions that are transferred through the resident financial intermediary are subject, when transferred or credited to their accounts, to a withholding tax of 5% in accordance with the provisions of Article (68) of the income tax regulations and Article (63) of its implementing regulations.

The Company would also like to draw the shareholder’s attention to updating their data and ensure that the accompanying bank account numbers that linked to their investment portfolio to ensure that their dividends reach without delay.

This comes in reference to the approval of the Ordinary General Assembly to distribute cash dividends to shareholders for the first half of the year 2023 in a total amount of SAR 12 million and the number of shares eligible for distribution is 6 million shares, which is SAR 2 per share, representing 20% of the par value of the share.

Noting that the eligibility for dividends is for shareholders who own shares at the end of trading on the day of the General Assembly on 09/10/2023 and who are registered in the company’s shareholder register at the Securities Depository Centre (EDAA) at the end of the second trading day following the entitlement date