Mobily BOD Recommends SAR 1.11 bln Cash Dividend Distribution for 2023

Etihad Etisalat Co. (Mobily) announced Sunday the Board of Directors’ (BOD) recommendation to distribute SAR 1.11 bln in cash dividends to shareholders for the fiscal year 2023, equivalent to 14.5% of the share nominal value.

The number of shares eligible for dividends reached 770 million shares, at SAR 1.45 per share, provided that the eligibility for cash dividends goes to the shareholders owning the shares on the day of entitlement and who are registered in the company’s shareholder register at the depository center at the end of the second trading day following the day of the company’s general assembly.

The company would like to draw the attention of non-resident investors in the Kingdom to the fact that the profits that it will pay to them will be subject to a withholding tax of 5% when those profits are transferred or deposited in their bank accounts, in accordance with the provisions of Article (68) of the Income Tax Law and Article (63) of its Executive Regulations.

Moreover, Etihad Etisalat urges its shareholders to update their data with the banks that hold their investment accounts to ensure that they receive their due dividends in a timely manner.