Southern Province Cement Board Recommends SAR 91 Million Cash Dividend for H2 2023

Southern Province Cement Co. announced on Thursday that its Board of Directors has recommended distributing SAR 91 million in cash dividends to the company’s shareholders for the second half of the fiscal year 2023. This amounts to 6.5% of the nominal value of each share.

The total number of shares eligible for dividends stands at SAR 140 million, at a rate of SAR 0.65 per share. Shareholders who are eligible for dividends are those who own shares at the end of the day of the next general assembly and are registered with the depository center by the end of the second trading day following the entitlement date.

For non-resident investors, cash dividends transferred through a resident financial intermediary or credited to their accounts are subject to a withholding tax of 5%, as per the provisions of Article 68 of the tax system and Article 63 of its implementing regulations