Riyadh – Mubasher: Saudi Arabia-based Advanced Petrochemical Company’s ordinary general meeting (OGM) approved the board’s recommendation to distribute SAR 0.70 per share for the fourth quarter of 2017.
The dividends will be distributed on 4 April to the shareholders registered in records on 18 March, according to a statement on Monday to the Saudi Stock Exchange (Tadawul).
The OGM authorised the board of directors to distribute cash dividends at semi-annually or quarterly basis for the fiscal year of 2018.
The board and auditor reports, as well as the consolidated financial results for 2017 were approved.
The firm stated that its net profits tumbled 13.8%, reaching SAR 631.1 million during the full-year 2017, compared to SAR 731.9 million a year earlier.
By 10:30 am KSA time, the stock rose 0.71% to SAR 47.90.
