Saudi Top BOD recommends distributing SR14.4 mln cash dividends of 2022

Saudi Top Trading Company announced on Monday the board of directors recommendation to distribute cash dividends to shareholders except for the shareholder Abdullah Muhammad Al-Ajmi who waived his profits for 2022.
The company said in a statement on Monday on Tadawul that the number of shares eligible for dividends is 1,200,000 shares, and the distribution date will be announced later.
The eligibility date of the dividends shall be at the end of trading day of the Company General Assembly meeting day (which will be announced at a later date) for the shareholders registered in Depository Center at the end of the second trading day following the General Assembly Meeting date.
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).
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.