Riyadh-Mubasher: Saudi Arabia's Sipchem seeks this year to launch the commercial operations of the polybutylene plant as well as the metal mold plant and the ethylene-vinyl acetate film plant, said Chairman Abdulaziz Al-Zamil.
The polybutylene plant is owned by the subsidiary Sipchem Chemicals Co., while the other two plants are owned by the subsidiary Wahaj.
In 2015, the company started the commercial operations of the polymers and cable coatings plants, which will generate additional income for Sipchem, Al-Zamil added.
The extraordinary general meeting held on Sunday approved the dividends paid for the first half of 2015 at 6% of capital, or SAR 0.60 a share, totalling SAR 220 million.
Net earnings for the fourth quarter of 2015 reached SAR 26 million, falling 80.36% compared with SAR 132.4 million in the same period a year before.
The stock closed Sunday 0.65% lower at SAR 13.80.
The company operates with paid-in capital of SAR 3.67 billion, divided into 366.7 million shares at a par value of SAR 10 each.
