‎“Najran Cement” BOD recommends distributing SR42.5 mln ‎cash dividends for H2, 2022‎

Najran Cement Co. announced the Board of Directors’ recommendation to distribute 42.5 million riyals in cash dividends to shareholders for the second half of the fiscal year 2022 AD, 2.50% of the nominal value of the share.

The company stated that the number of shares is 170 million shares at 0.25 riyals per share, provided that the eligibility for profits is for the company’s shareholders who own shares at the end of the day of the Ordinary General Assembly and who are registered in the company’s shareholder register at the Securities Depository Center at the end of the second trading day following the date of the general meeting assembly.

The company calls on its shareholders to quickly update their data and to ensure that the account numbers of investment portfolios are linked to the Deposit Center for Securities in the correct manner by the “Capital” brokers to ensure that their profits are deposited in the investment portfolios on the day of distribution, and the necessity to deposit all certificates in their possession – if any – in their investment portfolios by delivering them to the Securities Depository Center.

It would also 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.