Riyadh – Mubasher: Advanced Petrochemical on Wednesday announced distributing cash dividends for the fourth quarter of 2018 at 70 halalas per share during an ordinary general meeting (OGM) held the previous day.

The Saudi firm’s OGM also approved cash dividend distributions for the first, second, and third quarters of 2018 at SAR 2.1 per share, representing 21% of the capital, the company said in a statement to the Saudi Stock Exchange (Tadawul).

In January, Advanced Petrochemical reported a 13.6% year-on-year increase in net profits after zakat and tax in 2018, logging SAR 717 million, from SAR 631.12 million.

By 11:06 am Saudi time, the Saudi firm’s stock fell 0.72% to SAR 54.80.