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Saudi Steel Pipe Co. announces the Board of Directors’ recommendation to distribute cash dividends to the shareholders for the financial year 2023
| Element List | Explanation |
|---|---|
| Introduction | Saudi Steel Pipe Co. announces the Board of Directors’ recommendation to distribute cash dividends to the shareholders for the financial year 2023 |
| Date of the board’s recommendation | 2024-05-23 Corresponding to 1445-11-15 |
| The Total amount distributed | SAR 37,500,000 |
| Number of Shares Eligible for Dividends | 50,542,311 shares |
| Dividend per share | SAR 0.74 per share |
| Percentage of Dividend to the Share Par Value (%) | 7.4 % |
| Eligibility date | Eligibility for dividends shall be at the end of the trading day of the Company’s General Assembly meeting (which will be announced at a later date) for the shareholders registered in the Company’s shareholder's register at the Securities Depository Center (Edaa) by the end of the second trading day following the Company’s General Assembly meeting date. |
| Distribution Date | Details of distribution date and process will be announced at a later stage. |
| The name of other official authorities and the details of their non-refusal to the recommendation or decision | Not applicable |
| Additional Information | The Company encourages all shareholders to update their information with the custody members to ensure timely deposit of any future dividends directly into their investment portfolios. The Company wishes to draw the attention of non-resident shareholders that dividend payments are subject to withholding tax at a rate of 5% in accordance with the provisions of Article (68) of the Income Tax Law and Article (63) of its Implementing Regulations. |
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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