Zoujaj Declares SAR 16.4 Million Cash Dividends for H2 2023

The National Company for Glass Industries (Zoujaj) has announced its board of directors’ decision to distribute cash dividends to shareholders for the second half of 2023, amounting to 5% of the nominal value of the share.

The dividend distribution will apply to 32.9 million shares, at a rate of 0.5 riyals per share. Shareholders eligible for dividends are those who own shares at the close of the market on May 15, 2024, and are registered with the Securities Depository Center Company (Edaa) by the end of the second trading day following the maturity date. The distribution is scheduled for May 27, 2024.

It is important for non-resident foreign investors to be aware that cash dividends transferred through their residing financial intermediary are subject to a Withholding Tax of 5%, as stipulated in Article 68 of the Income Tax Law and Article 63 of the Implementing Regulation.

Additionally, the company urges its valued shareholders to update their information with the banks where they hold their investment accounts. This ensures that dividends are directly deposited into their accounts without delay.