Banque Saudi Fransi recommended distributing cash dividends to shareholders for the second half of 2021, at a rate of 8.5% of the nominal share value.
According to Arabiya Net, the bank said in a statement that the total distributed amount is 1.019 billion riyals, with a distribution share of 0.85 riyals per share after deducting zakat.
The eligibility for profits for the second half of 2021 will be for the bank’s shareholders registered with the Depository Center at the end of the second trading day following the holding of the general assembly meeting, which will be announced at a later time.
Details of the general assembly meeting and dividend distribution date will be announced at a later time.
The Bank had distributed a net cash dividend of 779.97 million riyals for the first half of the fiscal year 2021 AD to shareholders registered with the Depository Center at the end of the second trading day following the due date, which corresponds to 01/12/1442 AH corresponding to 07/11/2021 AD at 0.65 riyals per share and what It represents 6.5% of the nominal value of the share.
The total net profit distributed to shareholders for the fiscal year ending on December 31, 2021 is 1.799 billion riyals, at 1.50 riyals per share, equivalent to 15% of the nominal value of the share.
With regard to non-resident foreign investors, the bank said 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.
