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Al-Etihad Cooperative Insurance Co. announces the board of director’s recommendation to distribute cash dividends for the year ending 12/31/2023
| Element List | Explanation |
|---|---|
| Introduction | Al-Etihad Cooperative Insurance Co. announces the board of director’s recommendation to distribute cash dividends for the year ending 12/31/2023 |
| Date of the board’s recommendation | 2024-04-14 Corresponding to 1445-10-05 |
| The Total amount distributed | 27,000,000 |
| Number of Shares Eligible for Dividends | 45,000,000 |
| Dividend per share | 0.6 |
| Percentage of Dividend to the Share Par Value (%) | 6 % |
| Eligibility date | The eligibility of the dividends shall be for the shareholders who own the shares registered in the company’s shareholder register at the end of the second trading day after the date in which the Company’s General Assembly is convened, which will be announced later |
| Distribution Date | The dividend distribution date will be confirmed after the approval of the General Assembly. |
| The name of other official authorities and the details of their non-refusal to the recommendation or decision | The company has obtained no-objection from the Insurance Authority |
| Additional Information | The company urges our respected shareholders to update their banking information to ensure the deposit of the cash dividends directly into their accounts. In addition, we would like to draw the attention of the non-resident foreign investors that the cash dividend distribution which is transferred by the resident financial broker is subject to a withholding tax of 5% according to the provisions of Article (68) of the Income Tax Law and Article (63) of its Implementing Regulations. |
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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