| Element List |
Explanation |
| Introduction |
Further to the announcement of Saudi Advanced Industries Company (SAIC) published on the Saudi Exchange website on 27 March 2025 regarding the Board of Directors’ recommendation to the General Assembly to distribute cash dividends to shareholders for the fiscal year 2024, the Company announces that the Board of Directors has issued a resolution on 01 Dhu al-Qi’dah 1446 (corresponding to 29 April 2025) to amend the recommendation and increase the dividend per share, as detailed below |
| Date of Posting the Previous Announcement of Development on Saudi Exchange’s Website |
2025-03-27 Corresponding to 1446-09-27 |
| Hyperlink to the Previous Announcement |
Click Here |
| Change on the Development |
The Board of Directors of Saudi Advanced Industries Company, in its meeting held on 01 Dhu al-Qi’dah 1446 (corresponding to 29 April 2025), resolved to amend the previous recommendation regarding the distribution of cash dividends to shareholders by increasing the dividend per share from SAR 0.50 to SAR 1.00. Accordingly, the total distribution amount has increased to SAR 59,000,000 instead of SAR 29,500,000, distributed over 59,000,000 shares, representing a distribution rate of 10% of the nominal value of the share. The eligibility for dividends shall be for shareholders who own shares at the end of trading on the day of the General Assembly meeting and who are registered in the Company’s shareholders’ register with the Securities Depository Center Company (Edaa) at the end of the second trading day following the due date. The dividend distribution date will be announced later, following the approval of the General Assembly on the Board of Directors’ recommendation |
| Financial Impact on the change |
There is no material financial impact as a result of this clarification |
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