Riyadh – Mubasher: The board of SABIC Agri-Nutrients Company recommended cash dividends amounting to SAR 1.42 billion, on 30 May, for the first half (H1) of 2024.

The Saudi firm will disburse a dividend of SAR 3 per share, representing 30% of the share nominal value, for 476.03 million eligible shares, according to a bourse disclosure.

Eligibility and distribution dates for the dividends will be 4 and 22 July 2024, respectively.

In the three-month period that ended on 31 March 2024, SABIC Agri-Nutrients posted 14.27% year-on-year (YoY) lower net profits at SAR 841 million, compared to SAR 981 million.

Revenues declined by 8.80% to SAR 2.51 billion in the first quarter (Q1) of 2024 from SAR 2.76 billion during the January-March 2023 period.

Quarterly, the Q1-24 net profits dropped by 14% from SAR 978 million in Q4-23, while the revenues fell by 15.30% from SAR 2.97 billion.