Riyad Bank BOD recommends distributing SR1.95 bln cash dividends for H2 of 2022

Riyad Bank announced on Monday the Board of Directors’ recommendation to distribute cash dividends to shareholders for the second half of 2022.

It added that the total amount distributed is SR1,950,000,000. The dividend per share is SR0.65 after deduction of Zakat. The percentage of dividend to the share par value is 6.5 %.

The number of shares eligible for dividends is    3,000,000,000. The distribution date will be announced at a later date

It added that the eligibility date of the dividends shall be at the end of trading day of the Bank’s General Assembly meeting day (which will be announced at a later date) for the shareholders registered in Depository Centre at the end of the second trading day following the General Assembly Meeting date.

It concluded that “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 withholding tax of 5%, in accordance with the provisions of article 68 of the income tax law and article 63 of its implementing Regulations”.

Honourable shareholders (holders of certificates) who still keep their certificates need to deposit them in their investment portfolios, and the Bank urges its shareholders to promptly deposit the certificates they have in their portfolios by handing them over to the company for The Securities Depository Center (Edaa) in Riyadh phone (920001919) or send it by mail to the following address (6897 King Fahd Road – Olaya – Unit No. 15 – Riyadh 12211 – 3388 Saudi Arabia), accompanied by a copy of the national ID card, wallet number and name of the Authorized Persons, in preparation for depositing them in their investment portfolios with banks