Al-Etihad Insurance Recommends SAR 27 Million Cash Dividend Distribution for 2023

Al-Etihad Cooperative Insurance Co. announced on Monday that its Board of Directors has recommended the distribution of SAR 27 million in cash dividends for the fiscal year ending December 31, 2023.

The proposed dividend will be disbursed at a rate of SAR 0.6 per share across 45 million shares, which corresponds to a 6% distribution ratio relative to the nominal value of each share.

Eligibility for the dividends will be granted to shareholders registered in the company’s shareholder register by the end of the second trading day following the Company’s General Assembly, the date of which will be announced in due course.

The company urges all shareholders to ensure their banking information is updated to facilitate the direct deposit of dividends.

Furthermore, non-resident foreign investors are advised that cash dividends distributed via resident financial brokers are subject to a 5% withholding tax, as stipulated by Article (68) of the Income Tax Law and Article (63) of its Implementing Regulations.