SADAFCO to pay 25% dividend for H2 2019-20 on July 5

Saudia Dairy and Foodstuff Co.’s (SADAFCO) said it will pay cash  dividend on July 5, 2020 for the second half of fiscal year 2019-20 ended March 31, 2020, through the Saudi British Bank (SABB). 

Shareholders of record on June 16, including those registered at the Securities Depository Center two days after this date, are eligible to receive the dividend, the company said in a bourse statement.

Meanwhile, for non-resident foreign investors, the cash dividend distribution which is transferred by the resident financial broker will be subject to a withholding tax of 5%, when transferred or credited to the bank account, in accordance with the Income Tax Law. 

Earlier this month, the company’s shareholders approved a 25% cash dividend at SAR 2.5 per share for the second half of fiscal year 2019-20 ended March 31, 2020, according to data compiled by Argaam.