Riyadh – Mubasher: Advanced Petrochemical Company invited stockholders, owning a minimum of 20 shares, to attend the tenth ordinary general meeting on 1 March.

Shareholders will look into agenda items, mainly cash dividends and board members’ annual bonuses.

The company’s board proposed the distribution of Q4-15 cash dividends at 7.5% of capital, or SAR123 million, along with the already-distributed dividends for the first three quarters of FY15 at 22.5% (SAR369 million).

Thus, the total sum distributed for FY15 stands at 30% of capital or SAR492 million. 

Only shareholders of record until the OGM date are eligible for Q4 cash dividends.

The meeting will also vote on annual bonuses worth SAR200,000 for  each board member.

The company’s FY15 net profits dropped 0.5% year-over-year from SAR751 million to SAR713 million.