EIC distributes SAR 84.3 mln in cash dividends for H2 of 2023

Electrical Industries Company announced on Tuesday that the Board of Directors’ resolution to distribute SAR 84.3 million in cash dividends to the shareholders for the Second Half of 2023, equivalent to 15% of the nominal value of the share, has been approved.

The number of shares entitled to dividends reached 1.12 billion shares, at 0.075 riyals per share. Eligibility shall be for shareholders who own the shares on 31 March 2024 and are registered in the company’s shareholders register at the Securities Depository Center by the end of the second trading day following the eligibility date. The distribution Date will be Wednesday 24 April 2024.

The company calls upon its shareholders to quickly update their data and ensure that their bank account numbers are linked with their investment portfolios so that their dividends are deposited in their accounts with the banks without any delay.

We would like to draw the attention of non-resident foreign investors that the cash dividend distribution transferred by the resident financial broker is subject to a 5% withholding tax in accordance with the provisions of Article (68) of income tax law and Article (63) of its implementing regulations.