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Al Rajhi Bank announces the BOD’s recommendation to distribute cash dividends to the shareholders for the second half of 2023
| Element List | Explanation |
|---|---|
| Introduction | Al Rajhi Bank announces the BOD’s recommendation to distribute cash dividends to the shareholders for the second half of 2023 |
| Date of the board’s recommendation | 2024-02-24 Corresponding to 1445-08-14 |
| The Total amount distributed | SAR 4,600 Millions |
| Number of Shares Eligible for Dividends | 4,000,000,000 shares |
| Dividend per share | SAR 1.15 after deduction of Zakat |
| Percentage of Dividend to the Share Par Value (%) | 11.5 % |
| Eligibility date | The eligibility of the dividends shall be at the end of trading day of Al Rajhi Bank’s General Assembly meeting date (which will be announced at a later date) for the shareholders registered at Securities Depository Center Company (Edaa) by the end of the second trading day following the General Assembly Meeting date. |
| Distribution Date | Details of dividends distribution date and process will be announced later |
| The name of other official authorities and the details of their non-refusal to the recommendation or decision | The Bank has obtained no-objection from the Saudi Central Bank on the Board of Directors’ recommendation to distribute cash dividends to shareholders for the second half of 2023 |
| Additional Information | The Bank has distributed a net cash dividends of SAR 4,600 Million for the first half of the financial year 2023 to the shareholders registered in Depository Center at the end of the second trading day following the due date 13-01-1445 corresponding to 31-07-2023 for SAR 1.15 per share, which represents 11.5% of the share nominal value. Consequently, total net distributed dividends for the financial year ending 31-12-2023 amounting SAR 9,200 Million for SAR 2.30 per share which represents 23% of the share nominal value. 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 (when transferred or credited to the bank account) withholding tax of 5%, in accordance with the provisions of article (68) of the income tax law and article (63) of its implementing regulation. 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 company within 5 calendar days from the eligibility date and provide the bank with documents supporting tax exemption. Shareholders who have not received their dividends for previous periods or whose share certificates were not deposited in their investment portfolios, a name search tool has been added in the Banks’ website under the link: https://www.alrajhibank.com.sa/About-alrajhi-bank/Investor-Relations/Unclaimed-Dividends In case of any shareholder finds his/her name in the list, you are kindly requested to contact Shareholders Affairs at Phone: 011-8282515 Or through email: shareholders@alrajhibank.com.sa P.O. Box 28 Riyadh 11411, to verify data and take necessary actions to pay the cash dividend. Best Regards. |
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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