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SAFCO's board proposes SAR 1/shr dividends for H2-17

SAFCO's board proposes SAR 1/shr dividends for H2-17
SAFCO’s net profits plunged 76.71% to SAR 62.51 in the fourth quarter of 2017.
SABIC AGRI-NUTRIENTS
2020.B
1.52% 133.60 2.00

Riyadh – Mubasher: The Saudi Arabian Fertilizer Co’s (SAFCO) board of directors recommended the distribution of SAR 416.67 million in cash dividends with a dividend per share of SAR 1 for the second half of 2017, representing 10% of the share’s nominal value.

Dividends will be distributed among shareholders of record by the end of the second trading day following the maturity date, according to a statement to the Saudi Stock Exchange (Tadawul) on Wednesday.

Eligibility will be for shareholders registered in the group’s register at the depository centre, the statement added.

SAFCO’s shareholders’ meeting, as well as dividend distribution dates will be specified later.

The firm’s net profits plunged 76.71% to SAR 62.51 in the fourth quarter of 2017.

For the full year 2017, the kingdom-based fertilizers producer posted a 15.2% year-on-year decrease in profits to SAR 878.63 million.

By 10:43 am KSA time, SAFCO’s stock rose 0.11% to SAR 65.20.