Saudi news

Glass approves 5% cash dividends for shareholders for the second half of 2022

The National Glass Industries Company “Zajaj” announced the decision of the Board of Directors to distribute cash dividends to the company’s shareholders for the second half of the year 2022, at a rate of 5%.

The company said in a statement on “Tadawul Saudi Arabia”, today, Wednesday, that the distribution value is 16.45 million riyals, distributed over 32.9 million shares.

She explained that the share of the share from the distribution amounted to 0.5 riyals.

She added that the eligibility will be for shareholders who own shares when the market closes on Wednesday 10-7-1444 AH corresponding to 01-02-2023 AD, and who are registered in the company’s shareholder register with the Securities Depository Center Company (Edaa) at the end of the second trading day following the maturity date.

She indicated that the date and mechanism for distributing profits will be announced at a later time.

She drew the attention of non-resident foreign investors to the fact that the cash dividends that are transferred through the resident financial intermediary are subject to a withholding tax of 5% when transferred or credited to his account, in accordance with the provisions of Article (68) of the income tax system and Article (63) of its implementing regulations.

The company reminds its shareholders to update their data with the banks that hold their investment accounts to ensure that their profits are deposited directly in their accounts.

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