Academy of Learning Deposits Profits of H2 in Investment Portfolios of Shareholders… September 8

Academy of Learning Company announced on Sunday that the dividend distribution of the first half of 2022 will commence on Thursday 08 /09 / 2022, at SR1.5 dividend per share in accordance with the decision of the General Assembly held on 23/08/2022.
The eligibility is for the shareholders who own the shares at the end of the trading day of the General Assembly meeting and those registered in the company’s shareholders register with the Securities Depository Centre Company (Depository Centre) at the end of the second trading day following the due date.
Academy of Learning Company explained that the distribution will be through direct transfer to the bank accounts linked to the shareholders’ investment portfolios via Securities Depository Centre Company.
It concluded: “We would like 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 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 calls upon its shareholders to update their data with the banks that hold their accounts to ensure that their due dividends are deposited directly with no delay.
This comes with reference to Academy of Learning Company announcement on 24 /08 /2022 regarding the Board of Directors’ recommendation and approval to distribute the cash dividend for the first half of 2022.