Riyadh – Mubasher: The Saudi Basic Industries Corporation’s (SABIC) board proposed a cash dividend distribution of SAR 4.5 billion to shareholders for the second half (H2) of the year, equivalent to SAR 1.5 per share.

The proposed amount represents 15% of the share’s nominal value, SABIC said in a statement to the Saudi bourse on Tuesday.

Eligibility of dividends will be to the shareholders on the maturity date, 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 general assembly’s meeting date, which will be announced later on.

During the nine-month period ended 30 September 2020, SABIC turned to net losses of SAR 2.18 billion, against net profits of SAR 6.09 billion last year.