Riyadh – Mubasher: The board of Saudi Basic Industries Corporation (SABIC) decided to pay out SAR 5.40 billion as cash dividends for the first half (H1) of 2023.
SABIC will disburse SAR 1.80 per share for 3 billion eligible shares, according to a bourse disclosure.
Eligibility and payment dates for the dividends will be 12 September and 2 October 2023, respectively.
The board members greenlighted the H1-23 dividends, which represent 18% of the company’s capital, during their meeting that was held on 14 June.
In the first quarter (Q1) of 2023, the Tadawul-listed firm logged net profits after zakat and tax valued at SAR 660 million, an annual plunge of 89.80% from SAR 6.47 billion.
Revenues dropped by 24.60% to SAR 39.69 billion in Q1-23 from SAR 52.64 billion in Q1-22, while the earnings per share (EPS) plummeted to SAR 0.22 from SAR 2.16.
