Elm distributes SR155.2 mln cash dividends for H1

Elm Company announced on Wednesday the distribution of SR155.2 million as cash dividends to shareholders for the first half of 2022, equivalent to 20% of the nominal value of the share.
The company clarified that the number of shares entitled to dividends is SR77.6 million shares at a rate of SR2 per share. Those who are registered in the company’s shareholders register at the Securities Depository Centre at the end of the second trading day following the due date, and the distribution date will be on Thursday 13.10.2022.
In addition, the Company said: “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 a withholding tax of 5% according to the provisions of Article (68) of the Income Tax Law and Article (63) of its Implementing Regulations”.
In another matter, the company announced the decision of its Board of Directors to appoint Faris bin Ibrahim Al-Rashed Al-Hamid (independent member) as a member of the Board of Directors and Chairman of the Nominations and Remunerations Committee, starting from 20/09/2022 until the end of the Board’s term on 24/11/2024.