Riyadh-Mubasher: Saudi Basic Industries Corp. (SABIC) will distribute cash dividends to shareholders for the first half of 2016 at SAR 2 per share or 20% of capital, totalling SAR 6 billion.

Shareholders of record until 25 August would be entitled to receive dividends that will be paid out starting from 6 September, according to a bourse filing on Wednesday.

The company’s net profit fell 23.18% year-on- year to SAR 4.74 billion ($1.26 billion) in the second quarter of 2016 from SAR 6.17 billion ($1.64 billion).