SAIC Board Recommends SAR 44.2 Million Cash Dividends for 2023

Saudi Advanced Industries Company announced on Sunday the Board of Directors’ proposal to the General Assembly to distribute SAR 44.2 million in cash dividends to shareholders for the year 2023, equivalent to 7.5% of the nominal share value.

The total number of shares eligible for dividends stands at 59 million, at a rate of 0.75 riyals per share. Shareholders eligible for dividends will be those holding shares at the end of the second trading day following the company’s annual general assembly.

The company also advises non-resident foreign investors that cash dividends, when transferred through a resident financial intermediary and credited to their account, are subject to a 5% withholding tax as per Article 68 of the tax system and Article 63 of its executive regulations.