Riyadh – Mubasher: The net profits after Zakat and tax of Advanced Petrochemical Company amounted to SAR 295 million in 2022, down 63.80% year-on-year (YoY) from SAR 815 million.
Revenues totalled SAR 2.94 billion in the January-December 2022 period, an annual decline of 5.24% from SAR 3.11 billion, according to the annual income statements.
The earnings per share (EPS) plunged to SAR 1.14 last year from SAR 3.14 in the 12-month period that ended on 31 December 2021.
Dividends for Q4-22
The board of Advanced Petrochemical decided on 20 February 2023 to distribute cash dividends worth SAR 142.53 million, equivalent to 5.50% of its capital, for the fourth quarter (Q4) of 2022.
The Saudi firm will pay out SAR 0.55 per share for 259.15 million eligible shares.
Meanwhile, the eligibility and distribution dates for the Q4-22 dividends will be on 18 and 28 May 2023, respectively.
In the first nine months (9M) of 2022, the Tadawul-listed firm witnessed a 53.98% drop in net profit to SAR 301 million, compared to SAR 654 million in 9M-21.
