Al-Othaim Announces Q1 2024 Cash Dividend Distribution at SAR 0.15 per Share

Abdullah Al-Othaim Markets Company (“the Company”) announced on Sunday that its Board of Directors has approved the distribution of interim cash dividends for the first quarter of 2024, adhering to the company’s approved dividend distribution policy. The total dividend payout will be SAR 135 million, representing 15% of the nominal value of each share.

The dividends will be distributed at a rate of SAR 0.15 per share, with eligibility extended to shareholders who are registered in the company’s records by the end of Monday, May 27, 2024. The total number of shares eligible for distribution is 900 million.

The company also highlighted important information for shareholders:

1. Dividends for non-resident investors are subject to a 5% withholding tax as per article (68) of the Income Tax Law and article (63) of its implementing regulations.
2. Non-resident investors with dividend tax exemptions from the Zakat, Tax, and Customs Authority must contact the Investor Relations Department via email within three days from the dividend eligibility date to provide supporting documents for tax exemption.
3. Dividends will be transferred to shareholders’ investment accounts through custodial members. To ensure timely deposit of dividends, shareholders are urged to update their data with their custodial members.

This strategic move by Al-Othaim Markets Company underscores its commitment to providing value to its shareholders and maintaining a transparent communication line regarding financial distributions.