Saudi news

Yansab recommends a cash dividend of 12.5% ​​for the second half of 2022

Yanbu National Petrochemical Company “Yansab” announced the recommendation of the Board of Directors to distribute cash dividends to shareholders for the second half of the year 2022, at a rate of 12.5%.

The company said in a statement on “Tadawul Saudi Arabia”, today, Sunday, that the total value of distributions amounted to 703.1 million riyals, distributed over 562.5 million shares, and the share per share from the distribution amounted to 1.25 riyals.

She added that the eligibility for cash dividends will be for the shareholders who own shares on the due day and are registered in the company’s shareholder register at the Depository Center at the end of the second trading day following the day of the company’s general assembly, which will be announced later. The distribution date will be announced later.

The company called on its shareholders to quickly update their data and make sure that their bank account numbers are linked to their investment portfolios to ensure that their profits are deposited in their bank accounts on the day of distribution.

The company noted to non-resident investors in the Kingdom that the profits that the company will pay to them are subject to a withholding tax of 5% when those profits are transferred or deposited in their bank accounts, in accordance with the provisions of Article 68 of the Income Tax Law and Article 63 of its implementing regulations.

The company emphasized that non-resident investors who have tax exemptions on dividends issued by the Zakat, Tax and Customs Authority should communicate with the company within five calendar days of the due date and provide the company with documents supporting the tax exemption.

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