National Gas and Industrialization Board of Directors Approves SAR 82.5 Million Cash Dividend for H1 2024

National Gas and Industrialization Company announced on Tuesday the Board of Directors’ decision to distribute cash dividends to shareholders for the first half of the fiscal year 2024. The total amount distributed is 82.5 million riyals, with each share receiving 1.1 riyals, equating to a distribution ratio of 11% based on the nominal value of the share.

In a statement on Tadawul today, the company disclosed that the number of shares eligible for dividends is 75 million, with the distribution date set for July 22. The eligibility date is Monday, July 8, 2024 AD. Shareholders must be registered in the company’s shareholder register at the deposit center by the end of the second trading day following the eligibility date to receive dividends.

The company urges its valued shareholders to promptly update their information and ensure their bank account numbers are linked to their investment portfolios to facilitate the deposit of profits on the distribution day.

Additionally, the company notifies non-resident investors in the Kingdom that dividends will be subject to a 5% withholding tax upon transfer or deposit into their bank accounts, as per Article 68 of the Income Tax Law and Article 63 of its executive regulations. Non-resident investors eligible for tax exemptions on dividends issued by the Zakat, Tax, and Customs Authority should contact the company within 5 calendar days of the due date and provide supporting documents for tax exemption.