Saudi Aramco’s (Luberef) BOD recommends distribution of SR841 mln cash dividends for the second half of 2022

Saudi Aramco Base Oil Company – Luberef announced on Sunday the board of directors’ recommendation to distribute cash dividends to shareholders for the second half of 2022, with a Total amount distributed SR 841,285,750

The company said today on Tadawul that the number of Shares Eligible for Dividends is 168,257,150, and the distribution date will be announced later.

The company decided that the eligibility date of the dividends shall be at the end of the 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 called upon its Shareholders to update their data and ensure that their bank account numbers are linked to their investment portfolios to ensure that their dividends are deposited in their accounts with the banks on the distribution day.

The Company said it “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 emphasises to non-resident shareholders who have tax exemptions on dividends issued by the Zakat, Tax and Customs Authority to communicate this to the Company within 5 five calendar days from the date of the general assembly meeting and to provide the Company with all documents supporting the tax exemption.