Riyadh – Mubasher: Advanced Petrochemical Company shareholders endorsed the distribution of cash dividends for the fourth quarter of 2016 at 7.5% of capital, or SAR 0.75 per share, totalling SAR 123 million.
The dividends will be deposited in shareholders’ accounts starting 17 March, the company added.
Since the fourth quarter of 2014, the company has paid quarterly cash dividends at SAR 0.75 per share.
Meanwhile, the board of directors proposed the distribution of cash dividends for the first quarter of 2016 at 7.5% of the stock’s par value, or SAR 0.75 per share, totalling SAR 123 million.
Shareholders of record till the close of trading on 31 March will be entitled to the dividend distribution.
The petrochemical producer earlier reported SAR 713 million net profit for FY15, down 5% year-on-year from SAR 751 million.
