Almarai Board recommends 7.5% cash dividends for year 2017

11/12/2017 19:06 AST

The Board of Directors of Almarai Company, during its meeting on 11th December 2017, has decided to recommend to the General Shareholders Assembly a payment of dividend for the financial year 2017 as follows:

1- Total distributed dividends of SAR 750 million.

2- Dividend will be based on the 1.0 billion existing shares.

3- Dividend per share of SAR 0.75

4- The dividend represents 7.5% of the nominal value of each share.

5- The distribution is limited to the shareholders who are registered in Tadawul at the end of the second trading day following the General Assembly Meeting.

6- The date of the General Assembly Meeting will be determined after obtaining the formal approval for the related government agencies.

7- The date of cash dividend payment will be confirmed after getting the approval of the General Assembly.

We would like to draw the attention to the following regulation regarding the payment of dividend: for foreign non-resident investors the dividend paid by the company is subject to a withholding tax of 5.0% upon transfer to the nonresident investor or credit to its account according to the provisions of Article (68) of the Income Tax Law and Article (63) of the Implementing Regulations.

Almarai urges its shareholders to update their data and make sure to link their bank account numbers to their investment portfolios to ensure the receipt of their dividends.


Tadawul

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