In its meeting on August 22, 1444 H (14.03.2202), the board of directors of Saudi Electricity Company (SEC) proposed to the general assembly of shareholders that cash dividends be paid to shareholders for the upcoming fiscal year 2022. The Securities Depository Center Company (Edaa) will keep a shareholders register, and at the end of the second trading day following the eligibility date, it will list all of the company's shareholders who owned shares at the end of the trading session on the day of the general assembly meeting. A non-resident in the Kingdom is subject to tax for any sum realized from a source in the Kingdom, as stated in Article 68 of the Income Tax Law and Article 633 of its Implementing Regulations. The company would like to call the non-resident foreign investors' attention to the fact that a 5% withholding tax is applied to the cash dividend payout that is transferred by the resident financial broker.
Therefore, the company guarantees non-resident foreign shareholders who have tax exemptions on dividends issued by the Zakat, Tax, and Customs Authority to get in touch with the company within five (5) calendar days of the due date and give the company supporting documentation related to the tax exemption.
The business implores our esteemed shareholders to update their banking details so that the cash dividends can be deposited into their accounts immediately.
