SMASCO BOD Approves SAR 48 Million Cash Dividend for H1 2024

Saudi Manpower Solutions Company (SMASCO) announced on Thursday that its Board of Directors has approved a cash dividend distribution of SAR 48 million for the first half of 2024. The dividend, representing 12% of the company’s capital, equates to SAR 0.12 per share, with a total of 400 million shares eligible for dividends.

The company also reminded non-resident foreign investors that cash dividends transferred through resident financial intermediaries are subject to a 5% withholding tax, as stipulated by Article 68 of the Tax Law and Article 63 of its Executive Regulations.