Retailing and Operation Division

Saudi Automotive Services Company (SASCO) announces the method of dividends distribution for the financial Year 2019

30 June 2020
Retailing and Operation Division

ELEMENT LIST

EXPLANATION

Announcement Detail

With reference to what was approved by 37th Ordinary General Assembly which was held on Monday June 22, 2020 and its approval of Board’s recommendation to distribute cash profits to shareholders for the fiscal year ending on 31 Dec. 2019 at SR 1 per each share equivalent to 10% of SASCO capital in a total amount of SR 60 million. The entitlement would be for shareholders registered with the Securities Depository Centre Company (Idaa) by the end of the second trading day following the date on which the ordinary general assembly convened.

 

Saudi Automotive Services Company (SASCO) is pleased to announce to the shareholders of the company the commencement of the disbursement of cash dividends starting on Sunday July 05, 2020 by Riyadh Bank, as follows:

 

1. Profits are deposited directly into the accounts of the shareholders with investment portfolios linked to a bank account with a local bank.

 

2. Pay the profits directly by checking one of the Riyadh Bank branches for each of:

 

- Shareholders with investment portfolios not linked to bank accounts.

 

- Shareholders holding certificates (who do not have investment portfolios) according to the share certificate.

 

The company calls upon its shareholders to update their data and ensure that bank account numbers are linked to investment portfolios to ensure that their profits are achieved without delay.

 

We also draw the attention of non-resident foreign investors to the cash dividends that are transferred through the financial intermediary, the values that take place upon transfer or when they are credited to his account for withholding tax at a rate of 5% according to Article (68) of the tax system and Article (63) of its executive regulations.

 

For any enquire, please contact the Investor Relations Department on phone number 0112068855 ext. 1112, 1113.