Tuesday, 16 July 2024

Alinma Bank BOD recommends distributing SR996 mln cash dividends for H2

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Alinma Bank announced on Wednesday the Board of Directors’ recommendation to distribute cash dividends to shareholders for the second half of 2022.
It explained that the number of shares eligible for profits is 1.9 billion shares at SR0.50 after deducting zakat for each share, provided that the eligibility of profits is for the bank’s shareholders who own shares at the end of the day of the bank’s general assembly and who are registered in the bank’s records with the Securities Depository Center Company at the end of the second trading day following the date of the assembly. The distribution date will be announced later.
It concluded: “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 (when transferred or credited to the bank account) withholding tax of 5%, in accordance with the provisions of article (68) of the income tax law, and article (63) of its implementing regulation”.

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