“Riyad Bank” distributes 2.24 billion riyals in cash dividends for the second half

“Riyad Bank” distributes 2.24 billion riyals in cash dividends for the second half


Riyad Bank announced the distribution of 2.24 billion riyals in cash dividends for the second half of 2023. The bank stated, through a statement in Tadawul, that the distribution share amounted to 0.75 riyals after deducting zakat, distributed among 2.99 billion shares.

The bank explained that the eligibility for dividends for the second half of 2023 will be for the bank’s shareholders registered with “Edaa” at the end of the second trading day following the General Assembly meeting.

item clarification
introduction Riyad Bank announces the bank’s Board of Directors’ recommendation to distribute cash dividends to shareholders for the second half of 2023.
Date of Board of Directors recommendation 02-08-1445 corresponding to 02-12-2024
Total amount distributed 2,246,250,000 riyals
The number of shares entitled to dividends 2,995,000,000
Share of distribution 0.75 riyals after deducting zakat
Distribution ratio to nominal share value (%) % 7.5
Eligibility date The eligibility date for shareholders who own shares at the end of trading on the day of the bank’s general assembly (which will be determined later) and who are registered in the bank’s shareholder register at the deposit center at the end of the second trading day following the date of the assembly.
distribution date It will be announced later
The name of other official bodies and details of their non-objection to the recommendation or decision It should be noted that a no-objection from the Central Bank of Saudi Arabia was obtained to distribute cash dividends to shareholders for the second half of 2023.
additional information We would like to draw the attention of non-resident foreign shareholders to the fact that the cash distributions transferred through the resident financial intermediary are subject, when transferred or credited to his bank account, to a withholding tax of 5% in accordance with the provisions of Article (68) of the Income Tax Law and Article (63) of its regulations. Executive.

The bank notes that, out of concern for the rights of its esteemed shareholders who did not receive dividends from their shares during previous periods, a search feature for their dividends has been included on the bank’s website.

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This news article has been translated from the original language to English by WorldsNewsNow.com.

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