His Highness Real Estate recommends distribution of SAR per share for the year 2019

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Riyadh – Mubasher: The Board of Directors of Sumou Real Estate Company recommended “Highness” Distributing cash dividends to the company’s shareholders for the year 2019.

The company said, in a statement on “Tadawul” on Sunday, that the total distributions amounted to 25 million riyals, distributed on 25 million shares, at the rate of one riyal per share, representing 10% of its nominal value.

“His Highness” added that the profits are entitled to the shareholders of the company who own the shares at the end of the day of the next general assembly and who are registered in the company’s shareholders register with the depository center at the end of the second trading day following the due date, provided that the date of the general assembly is announced later after obtaining approval from Competent authorities.

She explained that she will determine the date of payment of the dividends later after the company’s general assembly approves this recommendation.

The company noted that, for non-resident foreign investors, the cash dividends that are transferred through the resident financial intermediary are subject to transfer tax or withholding at a rate of 5% in accordance with the provisions of Article (68) of the tax system and Article (63) of its executive regulations.

The company asked its shareholders to update their data with the banks that have their investment accounts; To ensure that their future earnings are deposited directly into their account.

And he started listing and trading the company’s sharesOn May 11, 2020, in the Saudi parallel market, “Nomu”, under the symbol 9511, with a daily fluctuation of the share price of 20%.

The company’s share ended the day’s trading, up 2.2%, to the level of 51 riyals.

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