Banan to distribute cash dividends

Saudi Arabia’s Banan Real Estate Company has said it will distribute 5 million riyals in cash dividends to the company’s shareholders for the period ending June 30, 2021.
In a Tadawul filing, the company said the Ordinary General Assembly meeting of the company approved cash dividends at the rate of (0.25) 25 halala per share, at a rate of 2.5 percent of the capital.
Banan Real Estate Company focuses on the investment and development of commercial, hospitality, and residential real estate. It serves customers worldwide.
The company said eligible for the dividends are the shareholders who own the company’s shares on the day of the assembly and are registered in the company’s shareholders register with the Securities Depository Center Company (Depository Center) at the end of the second trading day following the day of the assembly, which was held on Oct. 20.
The dividends will be distributed automatically by depositing in the investment accounts linked to the shareholders’ portfolios at all banks, starting on November 4 through Securities Depository Center Co., Edaa.
The company has asked shareholders to update their data and ensure that the bank account numbers are linked to the investment portfolios to ensure that their profits reach without delay.