“Arab Industries” Decides to Distribute Cash Dividends of 140 Billion Saudi Riyals

Saudi Electrical Industries Company Announces Cash Dividend Distribution for H2 2024

Saudi Electrical Industries Company has announced that its Board of Directors has decided to distribute cash dividends to shareholders for the second half of 2024, in line with the company’s three-year dividend distribution policy approved by the General Assembly on December 4, 2024. This policy will cover the period starting from the second half of 2024.

According to the company’s disclosure on the Saudi Stock Exchange, the Board has decided to distribute a total of 140.6 million Saudi Riyals in cash dividends, which will be allocated across 1.125 billion shares, resulting in a dividend of 0.125 Riyals per share.

The company clarified that the entitlement date for the dividends will be March 20, 2025, with the distribution taking place on April 13, 2025. Shareholders who are registered in the company’s shareholder registry with the Securities Depository Center Company by the end of the second trading day following the entitlement date will be eligible.

The company also urged its shareholders to update their information and ensure that their bank account numbers are linked to their investment portfolios to ensure that dividends are deposited into their accounts on the distribution date. Furthermore, the company stated that cash dividends for non-resident investors in the Kingdom will be transferred via the resident financial intermediary, and such distributions will be subject 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.

Sources:

• Saudi Stock Exchange
• Saudi Electrical Industries Company