Arabian Contracting BOD distributes SR95 mln cash dividends for H1

The Arabian Contracting Services Company announced on Sunday the Board of Directors’ recommendation to distribute SR95 million as cash dividends to shareholders for the first half of 2022, equivalent to 19% of the nominal value of the share, due to the positive results achieved by the Arabian Contracting Services Company in the first half.
The company indicated that the number of shares entitled to dividends is 50 million shares, at SR1.90 per share.
The eligibility of cash dividends will be to the shareholders who own the company’s shares on the eligibility date and registered in the company’s register at the securities depository center company (edaa) by the end of the second trading day following the day of the company’s General Assembly Meeting (eligibility date), which will be announced at a later stage.
The distribution date will be announced later, the company said.
The General Assembly date will be set after getting the formal approvals from the relevant authorities and in which the Board’s recommendation in this relation will be ratified.
The Company calls upon its Shareholders to update their data and ensure that their bank account numbers are linked to their investment portfolios to ensure that their cash dividends are deposited in their accounts with the banks on the distribution day after securing the General Assembly’s approval.
In accordance with the provisions of Article (68) of the Income Tax Law and Article (63) of its Implementing Regulations, the dividends of non-resident investors in the Kingdom will be subject to a 5% withholding tax when transferred or deposited in their bank accounts.