Fitness Time BOD Distributes SR19.4 mln Cash Dividends for 2Q

Leejam Sports Company (“Fitness Time” the “Company”) announced on Sunday the Board of Directors’ resolution to distribute cash dividends to the company’s shareholders for the Second Quarter Of 2022, with a total distributed amount of SR19,381,843.57.

It explained that the share of the distribution shall be SR0.37 per share, with a distribution ratio of 3.70% to the nominal value of the share.

The company said in a statement on Sunday on Tadawul that the number of shares entitled to dividends is 52,383,361 shares, and the distribution date will be on August 24, 2022.

It added that the eligibility of dividends shall be for shareholders who own the shares at the close of trading on Tuesday 09 August 2022 and as per the company shareholders register with the Securities Depository Center Company at the end of the 2nd trading day following the eligibility date.

It also added that the dividends will be distributed by direct transfer to Bank Accounts linked to the shareholders investment portfolios. The company urges its shareholders to update their information and to make sure to link their bank accounts number to their investment portfolios to ensure the receipt of their dividends.

It concluded: “The Company would like to draw the attention of non-resident investors that the distribution of cash dividends is subject to a withholding tax of 5% upon transfer or crediting the amount to their account in accordance with the provisions of the Income Tax Law and its Implementing Regulation”.