‎“Arab National Bank” BOD decides to distribute SR975 mln ‎cash dividends for H1‎

Arab National Bank announced the decision of the Board of Directors to distribute interim cash dividends to shareholders for the first half, at a value of 975 million riyals.

The bank explained that the number of shares due to profits is 1.5 billion shares, while the share of the share from the distribution is 0.65 halalas after deducting zakat, while the distribution percentage came to the nominal share value of 6.5%.

The bank confirmed the eligibility of profits for the bank’s shareholders who own shares on the maturity date 07/27/2023 AD, and are registered in the bank’s records with the Securities Depository Center Company at the end of the second trading day following the maturity date that corresponds to 07/31/2023, provided that the distribution takes place on 8/8/2023.

It drew the attention of non-resident foreign investors to the fact 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 system and Article (63) of its implementing regulations.