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The Saudi Investment Bank Announces the Distribution of an Interim Cash Dividends to Shareholders for the Second Half of the fiscal year 2024.
| Element List | Explanation |
|---|---|
| Introduction | The Saudi Investment Bank announces the Board of Directors resolution regarding distribution of an interim cash dividends to shareholders for the second half of the fiscal year 2024. |
| Date of the board’s decision | 2025-02-10 Corresponding to 1446-08-11 |
| The Total amount distributed | SAR 498,930,142.80 |
| Number of Shares Eligible for Dividends | 1,247,325,357 shares |
| Dividend per share | SAR 0.40 after deduction of Zakat |
| Percentage of Dividend to the Share Par Value (%) | 4 |
| Eligibility date | 2025-02-20 Corresponding to 1446-08-21 |
| Distribution Date | 2025-03-04 Corresponding to 1446-09-04 |
| The name of other official authorities and the details of their non-refusal to the recommendation or decision | It should be noted that the Bank has obtained no-objection from the Saudi Central Bank on the Board of Directors’ resolution to distribute an interim cash dividends to shareholders for the second half of the fiscal year 2024. |
| Additional Information | The Saudi Investment bank has previously distributed a net cash dividends of SAR 450 Million for the first half of the fiscal year 2024 to the shareholders registered in the Bank’s records at the Securities Depository Center Company (Edaa) at the end of second trading day following the eligibility date 11-02-1446H corresponding to 15-08-2024 for SAR 0.36 per share, which represented 3.6% of the nominal value of the share. Therefore, the total net distributed dividends for the financial year ending 31-12-2024 will be amounting to SAR 949 Million for SAR 0.76 per share, which will represent 7.6% of the nominal value of the share. We would like to draw the attention of the non-resident foreign investors that the cash dividend distribution which is transferred by the resident financial broker is subject to withholding tax of 5%, in accordance with the provisions of article (68) of the Income Tax Law and article (63) of its Implementing Regulations. Accordingly, the Bank emphasize to non-resident foreign investors who have tax exemptions on dividends issued by the Zakat, Tax and Customs Authority, to communicate with the bank within 3 calendar days from the eligibility date and provide the bank with documents supporting tax exemption. The bank would like to remind its shareholders to update their information and link their bank account to their investment portfolios to ensure the receipt of their cash dividends. The bank would also like to remind its shareholders to ensure the receipt of their dividends from previous years by following the steps in the below designated link. https://www.saib.com.sa/en/dividends |
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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