SNB distribute SR 2.68 billion cash dividends to shareholders for second half

The Saudi National Bank announces the Board of Directors’ recommendation to distribute cash dividends to shareholders for the second half of the year 2022, with total amount distributed SAR 2,686,800,000, Provided that the dividend per share is SAR 0.60 after deduction of Zakat, with a distribution ratio to the nominal share value of 6%.
The bank administration said today on “Tadawul” that the number of shares eligible for dividends is 4,478,000,000 shares, and details of dividends distribution dates and process will be announced later.
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 Center at the end of the second trading day following the General Assembly Meeting date.
The bank administration 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.
It also demanded all shareholders to update their information and to link their bank account numbers to their investment portfolios to ensure the timely distribution of their cash dividends without any delay.