SABB BOD recommends distributing SR1.5 bln cash dividends ‎for H2‎

The Saudi British Bank announced the recommendation of the Board of Directors to distribute cash dividends of 1.5 billion riyals to shareholders for the second half of the fiscal year ending on December 31, 2022 AD, equivalent to 7.4% of the nominal value of the share.

It added that the number of shares entitled to dividends, 2.05 billion shares, at 0.74 riyals per share, after deducting zakat for Saudi shareholders.

According to the statement published on “Tadawul”, the eligibility date for shareholders who own shares will be at the end of trading on the day of the bank’s general assembly (which will be determined later) and who are registered in the bank’s shareholder register with the Securities Depository Center Company at the end of the second trading day following the date of the assembly.

The bank would like to draw the attention of non-resident foreign investors that the cash distributions that are transferred through the resident financial intermediary are subject, when transferred or credited to his bank account, to a withholding tax of 5% in accordance with the provisions of Article (68) of the Income Tax Law and Article (63) from its executive regulations.