Al-Othaim Markets BOD approves distribution of 675 mln exceptional profits for Q3

Abdullah Al-Othaim Markets Company “the Company” announced on Wednesday the approval of its Board of Directors for distribution of exceptional interim cash dividends to shareholders for the third quarter of the year 2022, based on the exceptional returns that the company has achieved as a result of selling its share in the capital of Abdullah Al-Othaim Investment Company and Al-Madinah Al-Munawwarah Land.
It added that the gross amount distributed is SR675,000,000, provided that the share of the share from the distribution is SR7.5, with a distribution ratio to the nominal share value of 75%.
The company said in a statement on Wednesday on Tadawul that the number of shares due for dividends is 90,000,000 shares, and that the distribution date will be on 12/01/2022.
The eligibility of dividends shall be for the Company’s shareholders whose owns shares by the end of the trading day of Sunday 20/11/ 2022G and registered with the Securities Depository Center (Depository Center) at the end of the second trading day following the date of entitlement.
It also said: “We would like to draw the attention of the non-resident investors, that the cash dividend distribution which will be transferred 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 Regulations”.
It also added: “We would also like to point out to all the esteemed shareholders that the profits will be transferred through a Edaa company, which will transfer the profits to the investment accounts through the custodial members, and to ensure that the profits are deposited in the investment accounts without delay, we urge the need to ensure that the shareholders’ data is updated with the custodial members”.