Riyadh – Mubasher: Advanced Petrochemical on Thursday announced distributing cash dividends for the second quarter of 2017 at 70 halalas per share, starting 20 July.

Al Rajhi Bank will process the dividend distribution to all eligible shareholders through direct transfers to their accounts, the company said in a statement to the Saudi Stock Exchange (Tadawul).

Shareholders registered at the closing of trading on 22 June are eligible for the dividends, as well as those registered in the Depository Center at the end of the second trading day from the eligibility date.

On 17 May, the board of directors had approved the distribution of cash dividends for Q2-17 at 70 halalas per share, or 7% of capital, with total dividends reaching SAR 137,800 million.

The capital of the company amounts to SAR 1.968 billion distributed on 196.8 million shares with a par value of SAR 10 per share.

Advanced Petrochemical’s financial results showed a 0.98% increase in net profits in Q2-17 reaching SAR 194 million from SAR 192.11 in the corresponding period of the year before.