ALMRAKEZ BOD Decides to Distribute SR356.25 mln for 1H ending Sep 2021

Arabian Centers Company (the “Company” or “ACC”) announced on Monday its Board of Directors decision to distribute cash dividend to the shareholders for the first half of FY2022 ended on 30 September 2021, and that is as follows:

The company indicated that the number of shares eligible for dividends is SR475 Million Shares. The dividend per share is SR0.75. The eligibility date     of dividend shall be for the shareholders at the close of trading on 26 January 2022, who are registered in the register of The Securities Depository Center Company at the end of the second trading day following the eligibility date.

It added that the distribution will be through SABB branches by direct bank transfer to shareholders bank accounts linked to their portfolios. For the shareholders who own investment portfolios linked with bank accounts that do not accept bank transfer, they must go to any SABB branches along with their National ID (for Saudis) or Iqama (for none Saudis) to collect their dividends directly from the bank. ACC urges its shareholders to update their data and to make sure to link their bank accounts numbers to their investment portfolios to ensure the receipt of their cash dividends.

“We want to draw the attention to the foreign non-resident investors that the dividend paid by the Company is subject to a withholding tax of 5% upon transfer to the non-resident investor or credit to its account according to the provisions of Article (68) of the Income Tax Law and Article (63) of the Implementing Regulations.”,the company concluded.