Riyadh – Mubasher: Advanced Petrochemical on Thursday said it will begin the distribution of cash dividends for the second quarter of 2018 at SAR 0.70 per share as of 19 July through Al-Rajhi Bank.

Al Rajhi Bank will directly transfer the dividends to the accounts of all eligible shareholders, the company added in a statement to the Saudi Stock Exchange (Tadawul).

In June, the board of director recommended distributing cash dividends worth SAR 137.8 million for Q2-18, representing 7% of capital.

The company’s stock closed Wednesday’s trading session down 0.18% at SAR 56.80.

Advanced Petrochemical had reported a 10.08% year-on-year increase in net profit for the first half of 2018, recording SAR 351 million from SAR 318.87 million.