‎“Yansab” BOD recommends distributing SR703 mln cash ‎dividends for H2‎

Yanbu National Petrochemical Company (Yansab) announced the recommendation of the Board of Directors to distribute cash dividends to shareholders for the second half of the year 2022 AD, with a total amount distributed of 703,125,000 riyals, provided that the share per share from the distribution is 1.25 riyals per share, with a distribution ratio to the nominal value of the share at % 12.5.

The company said in a statement today on “Tadawul” that the number of shares eligible for dividends is 562,500,000 shares, and the distribution date will be announced later.

The eligibility for cash dividends will be for the shareholders who own the shares on the due day and are registered in the company’s shareholder register at the Depository Center at the end of the second trading day following the day of the company’s general assembly, which will be announced later.

The company called on its shareholders to update their data and make sure that their bank account numbers are linked to their investment portfolios to ensure that their profits are deposited in their bank accounts on the day of distribution. It also pointed out to non-resident investors in the Kingdom that the profits that the company will pay to them are subject to a withholding tax of 5% when transferring those profits or depositing them in their bank accounts, in accordance with the provisions of Article (68) of the Income Tax Law and Article (63) of its executive regulations.

Confirming that non-resident investors who have tax exemptions on dividends issued by the Zakat, Tax and Customs Authority must communicate with the company within five (5) calendar days of the due date and provide the company with documents supporting the tax exemption.