Arabian Centres to distribute $63mln cash dividends for H1

The distribution will be done through SABB branches by direct bank transfer to shareholders bank accounts


Arabian Centres Company (ACC), a leading owner, operator and developer of contemporary lifestyle centres in Saudi Arabia, has announced that its board has recommended the distribution of cash dividends worth SR237.5 million ($63.2 million) to shareholders for the first half ended September 30, 2020.

According to ACC, the eligibility of dividend shall be for the shareholders at the close of trading on January 4, 2021, who are registered in the register of The Securities Depository Center Company at the end of the second trading day following the eligibility date.

Each of eligible 475 million shares will be entitled to a dividend of SR0.50, with the percentage of dividend to the share par value hitting 5%, said the company in its filing to the Saudi bourse Tadawul.

The distribution will be done through SABB branches by direct bank transfer to shareholders bank accounts linked to their portfolios on January 14.

For the shareholders who own investment portfolios linked with bank accounts that do not accept bank transfer, they must go to any SABB branches along with their National ID (for Saudis) or Iqama (for none Saudis) to collect their dividends directly from the bank, it stated.

ACC said in case of the foreign non-resident investors, the dividend paid by the company is subject to a withholding tax of 5% upon transfer to the non-resident investors or credited to its account according to the provisions of Article (68) of the Income Tax Law and Article (63) of the Implementing Regulations, it added.-TradeArabia News Service

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