Riyadh – Mubasher: Saudi International Petrochemical (Sipchem) on Monday announced that its board of directors recommended distributing SAR 238.33 million in cash dividends for shareholders for the second half of 2018.
Distributions represent 6.5% of the share’s par value, or SAR 0.65 per share, according to a statement to the Saudi Stock Exchange (Tadawul).
“The eligibility date will be at closing of trading on Tuesday, 01 January 2019 and the shareholders who will receive the dividends will be as per the shareholder registry of the Securities Depository Center (Edaa) at the end of the second trading day following the eligibility date,” the statement added.
Sipchem further noted that the payment date of distributions will be announced later.
Sipchem last reported a 98.9% year-on-year surge in net profits after zakat and tax during the first nine months of 2018, logging SAR 543 million, versus SAR 273 million.
From July to September, the Saudi company’s net profits after zakat and tax grew 48.27% to SAR 180.3 million, against SAR 121.6 million in Q3-17.
By 2:16 pm Saudi time, Sipchem’s stock rose 0.24% to SAR 19.80.
