Riyadh – Mubasher: Saudi Basic Industries Corp.'s (SABIC) board recommended the distribution of cash dividends to shareholders for the second half of 2016 of 20% of capital, totalling SAR 66 billion.
Shareholders of record until the general assembly would be entitled to receive dividends. The meeting date will be announced after getting the necessary approvals, according to a bourse filing on Sunday.
In July, SABIC announced distributing cash dividends to shareholders for the first half of 2016 with the same value.
Shareholders of record on 25 August were entitled to receive dividends that were paid out on 6 September.
The company’s net profit fell 6.79% year-on- year to SAR 5.22 billion in the third quarter of 2016 from SAR 5.6 billion.
