Riyadh – Mubasher: Saudi Basic Industries Corporation (SABIC) on Wednesday announced that the company’s shareholders had approved distributing a cash dividend of SAR 2.2 a share, or 22% of the share’s nominal value, for the second half of 2018 during an ordinary general meeting (OGM) held the previous day.

Dividends will be distributed on 30 April, according to a statement to the Saudi Stock Exchange (Tadawul).

The eligibility of dividends shall be for the shareholders owning shares on the OGM date and as per the registered shareholders in the register of the Securities Depository Center Company at the end of the second trading day following the eligibility date.

The OGM also approved the distributed cash dividends at SAR 2.2 per share with a total value of SAR 6.6 billion for the first half of 2018.

In addition, an amount of SAR 1.8 million was approved as a remuneration for the board members for the fiscal year ended 31 December 2018.  

During the fourth quarter of 2018, SABIC’s profits retreated 12.4% to SAR 3.24 billion, compared to SAR 3.7 billion for the year-ago period.