Introduction: Bank AlJazira announces the recommendation of the Board of Directors to distribute cash dividends to shareholders for the second half of year ending on 31 December 2019.

  • Board Resolution Date: 26 January 2020.
  • Total Amount of Dividends Distributed: SAR 246 Million excluding applicable Zakat and Income Taxes.
  • Number of eligible shares: 820 Million Share
  • Dividend per share: SAR 0.30 net of Zakat
  • Percentage of Dividend to the share book value: 3%
  • Eligibility date: The entitlement of the dividends for the second half of the year 2019 shall be for the bank's shareholders registered in the Depository Center (Edaa) at the end of the second trading day following the AGM date which will be announced at a later date.
  • Dividend distribution date: The distribution date will be determined at a later date after obtaining the approval of the AGM on this recommendation.
  • Additional Information: The bank has previously distributed a net cash dividend amounting SAR 246 million for the first half of the year 2019 to the eligible shareholders with effect from 26 August 2019, at the rate of SAR 0.30 per share which represents 3% of the nominal value of the share.

 

Thus the total net dividends distributed to shareholders for the financial year ending on 31 December 2019 will be the amount of SAR 492 Million at the rate of SAR 0.60 per share, equal to 6% of the nominal value of the share.

Also, the Bank would like to draw the attention of the non-resident foreign investors that the cash dividends distribution which are transferred by the resident financial broker are subject (when transferred or credited to his bank account) to a Withholding Tax of 5%, in accordance with the provisions of Article 68 of the Income Tax Law and Article 63 of its By-laws.