Al-Battal Chemical Industries Factory Company announces the profit disbursement mechanism.
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Announcement Detail | With reference to the announcement of Al-Battal Chemical Industries Company published on 05/12/1446 AH corresponding to 01/06/2025 AD regarding the results of the Ordinary General Assembly meeting, which included approval of the Board of Directors' recommendation to distribute cash dividends in the amount of (2,001,000) two million and one thousand riyals to shareholders for the fiscal year ending (31-12-2024 AD), at a rate of (0.60) sixty halalas per share, representing (6%) of the capital. The eligibility shall be for shareholders who own shares at the end of trading on the day of the General Assembly meeting and are registered in the company's shareholders' register with the Securities Depository Center Company (Depository Center) at the end of the second trading day following the due date. The meeting was held on 02/12/1446 AH corresponding to 05/29/2025 AD.
The company would like to clarify that the dividend disbursement mechanism approved in Item (6) of the General Assembly's agenda will be done by automatic deposit into the accounts associated with the shareholders' portfolios. All banks have this issue due to the inability of the payment agent - the Securities Depository Center Company (Edaa) - to register the request by the company sufficiently before the due date, in accordance with the applicable regulations and procedures. The due date was the date of the assembly, and the assembly's approval of the item must be obtained before registration. The company confirms that the deposit of the due dividends will commence on Wednesday, June 25, 2025, for shareholders registered in the company's shareholder register with the Securities Depository Center Company (the Depository Center), at the end of the second trading day following the due date. The company urges its valued shareholders who have not received their due dividends to update their information and ensure that their bank account numbers are linked to their investment portfolios to ensure that their dividends are received without delay. Any shareholder experiencing delays in the deposit to their account can call 00966138128882 or contact us via email at [email protected]. The company would like to draw the attention of non-resident foreign investors to the fact that cash dividends transferred through a resident financial intermediary are subject to a 5% withholding tax upon transfer or upon entry into their account, in accordance with the provisions of Article (68) of the Tax Law and Article (63) of its Executive Regulations. |
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