Bupa Arabia BOD recommends distribution of cash dividend of SAR 450 mln for Fiscal Year 2022

Bupa Arabia for Cooperative Insurance Company announced its Board of Directors’ recommendation to distribute cash dividends to the shareholders for the fiscal year 2022.

The company declared on Wednesday in a statement on Tadawul that the number of shares eligible for dividends is 150,000,000 Shares, and the distribution date will be confirmed after the approval of the General Assembly of this recommendation, as the administration intends to invite the assembly after obtaining the necessary regulatory approvals.

The eligibility of dividends shall be for the shareholders registered in the registers of the Securities Depository Center (Tadawul) on owning shares at the end of the day of the General Assembly meeting of the Company and who are registered in the shareholder’s Register of the Company in the Securities Depository Center (Edaa) at the close of the second trading day after the date of the General Assembly Meeting which approves the dividends. The company will announce for the GA later, after obtaining the necessary approvals from the relevant authorities.

The Company would also like to draw its foreign non-resident investors’ attention that the dividend paid by the Company through the Financial intermediary is subject to a withholding tax of 5.0% upon transfer according to the provisions of Article 68 of the Saudi Arabia Income Tax Law and Article 63 of the Implementing Regulations of the Saudi Arabia Income Tax Law.