Riyadh – Mubasher: The shareholders of Saudi Aramco Base Oil Company (Luberef) approved the distribution of SAR 841.28 million as cash dividends for the second half (H2) of 2022, according to a bourse filing.
Eligible shareholders will receive a dividend of SAR 5 per share, representing 50% of the share nominal value, on 11 May 2023.
The board recommended the cash dividends last February, while the shareholders greenlighted the proposal during the ordinary general meeting (OGM) on 30 April.
Last year, Luberef posted a 31.65% hike in net profit after Zakat and tax to SAR 1.97 billion, compared to SAR 1.50 billion in 2021.
Revenues jumped by 19.98% to SAR 10.61 billion in 2022 from SAR 8.84 billion a year earlier, while the earnings per share (EPS) climbed to SAR 11.72 from SAR 8.90.
