Riyadh – Mubasher: Sahara International Petrochemical Company’s (Sipchem) board recommended distributing cash dividends of SAR 366.7 million to shareholders for fiscal year (FY) 2020.

The proposed amount represents 5% of the share’s par value or SAR 0.5 per share, according to a bourse statement on Tuesday.

Eligibility of dividends will be to the shareholders on the maturity date scheduled on 24 December 2020, as per the registered shareholders in the register of the Securities Depository Center Company (Edaa) at the end of the second trading day following the due date.

The dividends will be distributed on 6 January 2021.

During the first nine months of the year, Sipchem turned to net losses of SAR 141.8 million, against net profits of SAR 436.6 million in the prior-year period.