Riyadh – Mubasher: Saudi Arabia-based Yanbu National Petrochemicals’ (Yansab) ordinary general meeting (OGM) approved distributing a cash dividend of SAR 1.75 per share for the second half of 2017.
Total distributions amount to SAR 984.4 million, representing 17.5% of the share’s par value, according to a statement to the Saudi Stock Exchange (Tadawul).
The OGM discussed authorising the board to pay cash dividends to shareholders for the fiscal year of 2018, while payment dates will be specified later.
The OGM also considered the board's and auditor's reports for 2017.
Yansab’s net profits jumped 28.15% to SAR 780 million in the fourth quarter of 2017, while its full-year net profits rose 1.36% to SAR 2.38 billion in 2017.
By 10:40 am KSA time, Yansab’s stock fell 1.33% to SAR 71.
