SABIC Agri -Nutrients BOD recommends distributing SR3.8 bln in cash dividends for H2

SABIC Agri-Nutrients Company announced on Tuesday the board of director’s recommendation to distribute cash dividends to shareholders for the second half of 2022.
It explained that the total amount distributed is SR3,808,283,232. The dividend per share is SR8. The percentage of dividends to the share par value (%) is 80 %.
It said in a statement that the number of shares eligible for dividends is 476,035,404 shares
The eligibility date of the dividends shall be at the end of the Company General Assembly meeting day’s trading day (which will be announced later) for the shareholders registered in Depository Center at the end of the second trading day following the General Assembly Meeting date.
It said: “The company would like to clarify to the shareholders that the Board of Directors recommend to distribution (SR4) per share for the second half of the year 2022 and given the company’s outstanding performance, the Board of Directors recommend to the distribution of an additional (4) riyals per share, so that the total amount of distribution for the second half of 2022 is (SR8) per share”.
The company calls upon its Shareholders to quickly update their data and ensure that their bank account numbers are linked to their investment portfolios to ensure that their dividend are deposited in their accounts with the banks on the distribution day and that all the certificates they hold should be deposited in their portfolios through submission to the Securities Depository Center Company (Edaa): Riyadh (King Fahd Road – Towers Cooperative – Eastern Tower – Ground Floor) or contact via 920001919.
It concluded that the company would like to draw the attention of non-resident investors; the dividend paid by the Company is subject to a withholding tax of 5% upon transfer to non-resident investors or credited to their bank accounts according to the provisions of Article (68) of the Income Tax Law and Article (63) of its Implementing Regulations.
Accordingly, the company emphasize to non-resident investors who have tax exemptions on dividends issued by the Zakat, Tax and Customs Authority, to communicate with the company within 5 five calendar days from the eligibility date and to provide the company with documents supporting tax exemption.