Riyadh – Mubasher: Saudi Basic Industries Corp. (SABIC) on Wednesday announced that it will distribute SAR 6.6 billion in cash dividends for the second half of 2018.
Dividends represent 22% of the shares’ par value, or SAR 2.20 per share, according to a statement to the Saudi Stock Exchange (Tadawul).
“The eligibility of cash dividends will be to Shareholders who own the company shares on the Eligibility date and enrolled in the Company's register at Securities Depository Center Company (Edaa) by the end of the second trading day of the day of the General Assembly of the company,” the statement added.
SABIC further noted that the distribution date will be announced later.
The giant Saudi company last reported SAR 18.3 billion in net profits after Zakat and tax between during the first nine months of 2018, up 24.23% year-on-year from SAR 14.73 billion ($3.93 billion).
From July to September, the firm logged a net profit after zakat and tax of SAR 6.1 billion, up 5.35% year-on-year from SAR 5.79 billion.
SABIC’s stock levelled down 0.48% to close Tuesday’s trading session at SAR 123.20.
