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Saudi Top for Trading Co. announces the board of director’s recommendation to distribute cash dividends for Second half of fiscal year 2023
| Element List | Explanation |
|---|---|
| Introduction | Saudi Summit Trading Company announced the recommendation of its Board of Directors to distribute cash dividends to the company’s shareholders other than shareholder Abdullah Muhammad Al-Ajmi, who waived his profits for the second half of the fiscal year 2023. |
| Date of the board’s recommendation | 2024-06-24 Corresponding to 1445-12-18 |
| The Total amount distributed | 7,200,000 |
| Number of Shares Eligible for Dividends | 12,000,000 |
| Dividend per share | 0.6 |
| Percentage of Dividend to the Share Par Value (%) | 60 |
| Eligibility date | Eligibility for cash dividends will be for shareholders who own shares on the date of entitlement and who are registered in the company’s shareholder registry with the Securities Depository Center Company (Depository Center) at the end of the second trading day following the day of the company’s general assembly, which will be announced later. |
| Distribution Date | Will be announced later |
| The name of other official authorities and the details of their non-refusal to the recommendation or decision | N/A |
| Additional Information | The company would like to draw the attention of foreign shareholders who are not residents of the Kingdom to the fact that the cash distributions that will be transferred through the resident financial broker are subject when transferred or recorded, to a withholding tax of 5% in accordance with the provisions of Article (68) of the Income Tax Law and Article (63) of its Implementing Regulations. The company also calls on its valued shareholders to quickly update their data and ensure that their bank account numbers are linked to their investment portfolios so that their profits are deposited in their accounts with banks on the day of distribution. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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