SABB Recommends Distributing SR1.13 bln Cash Dividends for 1H

The Saudi British Bank (SABB) announced on Monday recommendation of the board of directors to distribute interim cash dividends to shareholders for the first half of the fiscal year 2022.

The bank said in a statement to the Saudi market “Tadawul”, Monday, that the distribution ratio to the nominal value of the share amounted to 5.5%, at SR0.55 per share, after deducting zakat for Saudi shareholders, while the number of shares entitled to dividends amounted to approximately 2.055 billion shares.

The eligibility of the first half dividends shall be for the shareholders owning shares on the due date on Wednesday 13/07/2022 and those shareholders registered in the Bank share registry at the Depository Centre (Edaa) at the end of the second trading day following the due date.

The Bank wants to draw the attention of non-resident investors that cash distribution paid through resident financial broker is subject to a withholding tax of 5% upon transfer to the non-resident investor or crediting the amount to its account in accordance with the provisions of Article (68) of the Income Tax Law and Article (63) of its Implementing Regulation.

As for shareholders whose accounts details are not available or incomplete, they may visit the nearest SABB branch or contact the Shareholders Registry Unit to update their information and arrange for receipt of their dividends.