SNB Board Recommends Distributing as much as SR4.03bln

The Saudi National Bank a announced (SNB) Board of Directors’ recommended distribution of cash dividends to shareholders for the 2nd half of the Year 2021, with a total amount of SR4,030,200,000, provided that the share of the distribution is SR0.90, following zakat deducting, with a distribution ratio to the nominal value of the share at 9%.

It was decided that the date of eligibility for the shareholders shall be, at the end of the trading day of the bank’s general assembly (shall be determined later on) and those on the bank’s shareholders register, at the depository center, by the end of the 2nd trading day, following the date of the meeting.

For non-resident foreign investors that cash dividends transferred through the resident financial intermediary channels are subject to transfer or credit to their bank account, and to the 5% withholding tax in accordance with the provisions of Article (68) of the income tax system and Article (63) of its executive regulations, the board explained.

We would also like to remind all valued shareholders to update their data and to ensure that their bank account numbers are linked to investment portfolios, the board exhorted, to ensure that their profits are deposited in their accounts without delay, it concluded.