Riyadh – Mubasher: National Petrochemical Company (Petrochem) on Monday announced that the company’s shareholders had approved distributing cash dividends at 5% of the share’s nominal value, or SAR 0.5 a share, for 2018 during an extraordinary general meeting (EGM) held the previous day.

Dividends for 2018 will be distributed on 16 April for shareholders owning shares on the EGM date and those registered till the end of the second trading day following the EGM date, according to a statement to the Saudi Stock Exchange (Tadawul).

The Saudi-based company's shareholders also agreed to distribute remunerations worth SAR 1.6 million for the board members, at SAR 200,000 per each member for 2018.

For the full-year 2018, Petrochem’s net profits rose 31.9% to SAR 1.165 billion, compared to SAR 888 million in 2017.