Riyadh – Mubasher: Saudi International Petrochemical Company (Sipchem) on Sunday announced that its board of directors has recommended the distribution of a SAR 238.33 million cash dividend or SAR 0.65 per share to shareholders for the second half of 2018.
The dividend will be distributed by Al-Rajhi Bank as of Tuesday, 15 January through crediting such dividends to the eligible shareholders’ accounts linked to their investment portfolios, according to a filing to the Saudi Stock Exchange (Tadawul).
As for non-residents shareholders in the Kingdom, around 5% of the value of the dividends paid will be deducted as “with-holding tax” in accordance with the provisions of Article 68 of the Zakat and Income Tax Regulations, the company noted.
In October, Sipchem posted robust financial results for the nine-month period ended 30 September 2018, logging SAR 543 million ($144.71 million) in net profits after zakat and tax, versus SAR 273 million ($72.75 million) in the corresponding period of 2017.
Revenues rose by 25.2% to SAR 3.983 billion during the nine-month period ended September 2018 from SAR 3.181 billion in the same period a year ago.
