‎“SIIG” BOD decides to distribute SR 377.4 million cash ‎dividends for H1‎

Saudi Industrial Investment Group Company announced the decision of the Board of Directors to distribute cash dividends to shareholders for the first half of the year 2023 AD, with a total amount distributed of 377.4 million riyals, provided that the share of the share from the distribution is 0.5 riyals, and with a distribution ratio to the nominal share value of 5% ,.

The company said in a statement today on “Tadawul” that the number of shares eligible for dividends is 754.8 million shares, and the distribution date will be August 24.

The eligibility date will be for shareholders who own shares at the end of trading on Tuesday 1-21-1445 AH corresponding to 8-8-2023 AD, and who are registered in the company’s shareholder register with the Securities Depository Center Company (Edaa) at the end of the second trading day following the eligibility date.

The company called on all shareholders to update their data and make sure that their bank account numbers are linked with their investment portfolios to ensure that their accrued profits are directly deposited in their bank accounts.

It also drew the attention of non-resident shareholders that cash dividends, when transferred or credited to their bank account, are 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. While I emphasized that non-resident investors who have tax exemptions on dividends issued by the Zakat, Tax and Customs Authority must communicate with the company within five calendar days of the due date and provide the company with documents supporting the tax exemption.