Sunday, 4 June 2023

Savola BOD Recommended distributing Cash Dividends of SAR 352.4 mln for 2022

The Board of Directors of Savola Group recommended distributing cash dividends to the Shareholders for the fiscal year 2022, with a total amount of SAR 352.4 mln, provided that the value of each dividend share shall be SAR 0.66 Per Share, with a Percentage of Dividend to the Share Par Value of 6.6 %. On Monday, the group declared in a statement on “Tadawul” that the Number of Shares Eligible for Dividend is 533,980,684 shares, and the Distribution date shall be announced later.

For non-resident investors, the group stated that cash dividends that shall be transferred through the resident financial broker or when credited to his account shall be subject to a withholding tax of 5% in accordance with the provisions of Article (68) of the income tax law and Article (63) of its implementing regulations.

The General Assembly date shall be set after securing the formal approvals from the relevant authorities, in which the related BOD recommendation shall be ratified.

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The Company called upon its Shareholders to quickly update their data and ensure that their bank account numbers shall be linked to their investment portfolios to ensure that their cash dividends shall be deposited in their accounts with the banks on the distribution day after securing the General Assembly’s approval.

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