By: Thabet Shehata
Riyadh – Mubasher: Shareholders on the Saudi Stock Exchange (Tadawul) will be discussing and anticipating cash dividends worth SAR 2.3 billion ($613 million) in the week starting 15 May and ending on the 19th.
Dividends will be for the first quarter of 2016 and the fiscal year 2015.
Distributions by the Saudi Telecom Company (STC) will be the highest this week, accounting for 86% of total dividends, according to statistics by Mubasher.
STC announced cash dividends amounting to SAR 1 per share, totalling SAR 2 billion, which will be given out on Thursday, 19 May.
Sahara Petrochemicals Co. is reportedly the second highest in terms of cash dividends this week. Its ordinary general meeting (OGM) will meet on Wednesday to discuss the distribution of SAR 0.5 per share to shareholders, totalling SAR 219.4 million and representing 5% of capital.
Other cash dividends during the week include Tabuk Agricultural Development and Saudi Arabian Refinery Co. (SARCO), which will give out SAR 0.5 per share, while SACO will distribute SAR 1.5 per share this week.
Translated by: Nada Adel Sobhi
