Riyadh - Mubasher: Advanced Petrochemical Company (APC) announced that its board of directors has recommended to distribute cash dividends to the shareholders for the fourth quarter of 2016 at 7% or SAR 0.7 per share.
The decision comes after the board meeting which was held today, where financial and operational performance of the company was reviewed, according to the APC’s statement to the Saudi Stock Exchange (Tadawul).
The total dividends amount to SAR 137.8 million, set to be distributed to 196.8 million shares.
According to the company’s statement the eligibility of dividends shall be for the shareholders registered in the registers of the Securities Depository Center (Tadawul) on the end of the day of the general assembly meeting which will be determined after the approval of the regulatory authorities.
The dividend distribution date is yet to be announced.
This raises the total cash dividends in 2016 to SAR 511.7 million which is equivalent to SAR 2.85 per share and represent 28.5% of the face value of shares.
