Aldrees announces distribution of SAR 150 million cash dividends for 2022

The Board of Directors of Aldrees Petroleum and Transport Services Co., in its meeting held on Sunday, 22/01/2023, has recommended the distribution of dividends to the shareholders for the year 2022.

The company said that the total amount distributed is SAR150 million, the number of shares eligible for dividends is 75 million shares, and the dividend per share is SAR 2.

The eligibility of the dividends for the Company’s shareholders who own shares at the end of the day in which the Company’s General Assembly is convened and who are registered in the Company’s records at the Securities Depository Center Company (Edaa) at the end of the second trading day following the date of the General Assembly which will be announced at a later date.

The company explained that the distribution date will be announced later.

The company drew the attention of the non-resident foreign investors that the cash dividend distribution which the resident financial broker transfers 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.