Burgeriser’s BOD recommends distributing 5 million riyals in cash dividends for 2023

The fast food sandwich house restaurant company “Burgerizer” announced the Board of Directors’ recommendation to distribute 5 million riyals in cash dividends to shareholders for the year 2023, equivalent to 14.2% of the nominal value of the share.

The number of shares eligible for dividends reached 35 million shares, at 0.14 riyals per share, with eligibility being for shareholders who own shares at the end of trading on the day of the company’s general assembly (which will be determined later) and who are registered with the Securities Depository Center at the end of the second trading day following the date of the assembly.

The company would like to draw the attention of non-resident foreign investors to the fact that the cash distributions transferred through the resident financial intermediary are subject, when transferred or credited to his account, to a withholding tax of 5% in accordance with the provisions of Article (68) of the tax system and Article (63) of its executive regulations.

The distribution will be through direct transfer to bank accounts linked to shareholders’ investment portfolios. The company calls on all valued shareholders to update their data with the banks in which their accounts are held to ensure that their future due profits are deposited directly in their accounts.