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Arriyadh Development Co. announces the distribution of cash dividend for First half 2022

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Introduction The Board of Directors of Al-Riyadh Development Company decided, in its meeting held on Wednesday, Rabi’ Al-Awwal 02, 1444 AH, corresponding to September 28, 2022 AD, to distribute cash dividends to the company’s shareholders for the first half of 2022 AD.
Date of the board’s decision 2022-09-28 Corresponding to 1444-03-02
The Total amount distributed 44,444,444.25 SR
Number of Shares Eligible for Dividends 177,777,777 shares
Dividend per share 25 halalas
Percentage of Dividend to the Share Par Value (%) 2.5 %
Eligibility date The eligibility for profits is for the company’s shareholders who own shares on the due date 10-10-2022 AD and are registered in the company’s shareholders’ register with the Securities Depository Center Company at the end of the second trading day following the due date.
Distribution Date 30-10-2022
Additional Information The distribution will be, God willing, through direct transfer to the bank accounts linked to the shareholders’ investment portfolios. The company calls upon the shareholders to update their data with the banks that hold their accounts to ensure that their due profits are deposited directly in the future.

We would also like to draw the attention of non-resident foreign investors to the fact that cash dividends transferred through the resident financial intermediary are subject, when transferred or credited to his bank account, to a 5% withholding tax in accordance with the provisions of Article (68) of the Income Tax Law and Article (63) of its executive regulations.

The company calls on its valued shareholders who have not received their profits for the past years to review Al Rajhi Bank and the Arab National Bank, bringing with them what proves their eligibility for those profits. As for the owners of the certificates, we hope that they open an investment portfolio with a bank and deposit their certificates through the Securities Depository Center Company so that they can receive their profits . For inquiries, please call the toll-free number (8001160014 or 0114110333, ext. 1103 .).

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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