Riyadh – Mubasher: Advanced Petrochemical on Wednesday announced that its board of directors recommended distributing cash dividends for the first quarter of 2019 at 70 halalas per share to shareholders.
The total value of dividends amount to SAR 137.8 million, distributed over 196.79 million shares, the company said in a statement to the Saudi Stock Exchange (Tadawul).
Shareholders at the closing of trading on 31 March and those registered with the Securities Depository Center at the end of second trading day following the eligibility date will be entitled to the dividends, the statement added.
Additionally, the Saudi firm’s ordinary general meeting (OGM) announced distributing cash dividends for the fourth quarter of 2018 at 70 halalas per share.
In January, Advanced Petrochemical posted a 13.6% year-on-year increase in net profits after zakat and tax in 2018, logging SAR 717 million, against SAR 631.12 million.
By 12:01 pm Saudi time, the Saudi firm’s stock fell 1.27% to SAR 54.50.
