SABIC BOD approves distributing SR6 bln cash dividends for H1‎

The Saudi Basic Industries Corporation (SABIC) announced the decision 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 6,000,000,000 riyals, provided that the share of the distribution is 2 riyals per share, with a distribution ratio to the nominal value of the share at %20.

The company said in a statement today on “Tadawul” that the number of shares due for dividends is 3,000,000,000 shares, and that the distribution date will be on Sunday, Ramadan 11 1444 AH (according to the Umm Al-Qura calendar) corresponding to April 2, 2023 AD.

The eligibility of the cash dividends will be for the shareholders who own the shares on the due date and who are registered in the company’s shareholder register at the Depository Center at the end of the second trading day following the due date, which will be on Monday 21 Shaaban 1444 AH (according to the Umm Al-Qura calendar) corresponding to 13 March 2023 AD.

Additional Information:

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.

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.