The Savola Group Announces the Recommendation of its Board of Directors to Distribute Cash Dividends to its Shareholders for the Year 2020.
|Introduction||Based on the profits achieved by the Group, the Board of Directors recommends distributing cash dividends to the Shareholders for the year 2020 as per the details articulated hereunder.|
|Date of the board’s decision||2021-01-27 Corresponding to 1442-06-14|
|The Total amount distributed||SAR 400,485,513|
|Number of Shares Eligible for Dividends||shares 533,980,684|
|Dividend per share||SAR 0.75 Per Share|
|Percentage of Dividend to the Share Par Value (%)||7.5 %|
|Eligibility date||The eligibility of cash dividends will be to the shareholders who own the Company’s shares on the eligibility date and registered in the Company's register at the Securities Depository Center Company (Edaa) by the end of the second trading day following the day of the Company’s General Assembly meeting (eligibility date), which will be announced at a later stage.|
|Distribution Date||Distribution date will be announced later.|
|Additional Information||The General Assembly date will be set after securing the formal approvals from the relevant authorities and in which the Board’s recommendation in this relation will be ratified. |
The Company calls upon its Shareholders to quickly update their data and ensure that their bank account numbers are linked to their investment portfolios to ensure that their cash dividends are deposited in their accounts with the banks on the distribution day after securing the General Assembly’s approval.
The Capital Market Authority and the Saudi Stock 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.