Banque Saudi Fransi BOD Distributes SR1.01 bln Profits for 2H of 2021

Banque Saudi Fransi announced on Thursday the Board of Directors’ recommendation to distribute cash dividends to shareholders for the Second half of 2021.

The total amount distributed is SR1, 019.96 Million. The dividend per share is SR0.85 after deduction of Zakat. The percentage of dividend to the share par value (%) is 8.5 %.

Securities Depository Center Company indicated on Tadawul on Thursday that the number of shares eligible for dividends is 1,199,948,015 shares. The details of the General Assembly Meeting and dividend distribution dates will be announced later.

The entitlement of the dividends for the second half of the year 2021 shall be for the shareholders registered in Depository Center at the end of the second trading day following the General Assembly Meeting, which will be announced later.

The Bank has distributed net cash dividends of SR779.97 Million for the first half of the financial year 2021 to the shareholders registered in Depository Center at the end of the second trading day following the due date 11.07.2021 for SR0.65 per share, which represents 6.5% of the share nominal value. Consequently, total net distributed dividends for the financial year ending 31.12.2021 amounting SR1, 799.92 Million for SR1.50 per share which represents 15% of the share nominal value.

“We want to draw the attention of the non-resident foreign investors that the cash dividend distribution which is transferred by the resident financial broker is subject to (when transferred or credited to the bank account) withholding tax of 5%, in accordance with the provisions of article 68 of the income tax law and article 63 of its implementing regulation.” the company concluded.