Saudi petrochemical giant SABIC eyes $1.2mln in cash dividends | ZAWYA MENA Edition
Saudi Basic Industries Corp. (SABIC), the world’s fourth-biggest petrochemical firm, is planning to hand out 4.5 million Saudi riyals ($1.2 million) in cash dividends to its shareholders.
The company’s board has recommended the payout for the second half of the year, the firm said in a bourse filing on Wednesday.
About three billion shares will be eligible to receive the dividend, pegged at 1.5 riyals per share. The proposed dividend represents 15 percent of the share’s par value.
“The eligibility of cash dividend will be to shareholders who own the company shares on the eligibility date and enrolled in the company’s register at the Securities Depository Centre for Company (Edaa) by the end of the second trading day of the day of the General Assembly of the company, which will be announced later,” the firm said.
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