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September 26, 2019

Distribution of cash dividend for 2018 fiscal year

The Board of Directors of Buruj Cooperative Insurance Company has recommended the distribution of cash dividends to the shareholders for the 2018 fiscal year. 

Element List

Explanation

Board Resolution Date

2019-09-26 Corresponding to 1441-01-27

Total Amount of Dividend Distributed

30000000

Number of Shares Eligible for Dividends

30000000

Dividend per share

1

Percentage of Dividend to the Share Par Value (%)

10 %

Eligibility date

The eligibility of dividends shall be for the shareholders registered in the registers of the Securities Depository Center (Tadawul) on owning shares at the end of the day of the General Assembly meeting of the Company and who are registered in the shareholder's Register of the Company in the Securities Depository Center (Edaa) at the close of the second trading day after the date of the General Assembly (GA) Meeting which approves the dividends. The GA will be announced at a later date.

Distribution Date

The dividend distribution date will be confirmed after the approval of the General Assembly.

Additional Information

The Company would also like to draw its shareholders' attention to the following regulation regarding the payment of dividends: For foreign non-resident investors the dividend paid by the Company is subject to a withholding tax of 5.0% upon transfer to the non-resident investor or credit to its account according to the provisions of Article 68 of the Saudi Arabia Income Tax Law and Article 63 of the Implementing Regulations of the Saudi Arabia Income Tax Law.