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Sunday, 18 December 2011

SABIC up on H1 dividend; UAE markets trade flat - Stocks -

Saudi Basic Industries Corp (SABIC) rose after saying it would issue a SAR3-per-share ($0.80) dividend for the second half of 2011, helping the kingdom's index extend gains.

Shares in SABIC, the world's largest chemicals producer, climbed 1.3 percent to rebound from Saturday's two-week low.

Other petrochemical stocks also advanced, with Saudi Kayan Petrochemical up 0.9 percent and Alujain climbing 1.4 percent.