Riyadh – Mubasher: The shareholders of Yanbu National Petrochemical Company (Yansab) greenlighted on 7 March the distribution of SAR 703.12 million as cash dividends for the second half (H2) of 2022.

The payment date for the approved dividends will be 26 March 2023, according to a bourse filing.

Yansab will disburse SAR 1.25 per share, equivalent to 12.50%% of the share nominal value, for 562.50 million eligible shares.

It is worth noting that the company’s board proposed the H2-22 cash dividends last December.

In 2022, the Tadawul-listed firm logged net profits after Zakat and tax worth SAR 414.10 million, an annual plunge of 72.96% from SAR 1.53 billion.

Revenues dropped by 6.33% to SAR 7.02 billion in 2022 from SAR 7.49 billion in 2021, while the earnings per share (EPS) plummeted to SAR 0.74 from SAR 2.72.