Riyadh – Mubasher: The stakeholders of Saudi Basic Industries Corporation (SABIC) approved a cash dividend payout representing 42.50% of the capital for the full year 2022.
SABIC, therefore, is disbursing SAR 4.25 per share at a total amount of SAR 12.75 billion for the year ended on 31 December 2022, based on the resolution of the extraordinary general meeting (EGM) which was held on 22 June 2023, according to a bourse disclosure.
The 2022 dividends include a distribution of SAR 6 billion which is equivalent to 20% of the capital for the second half (H2) of 2022.
Last December, the board of the company announced a dividend worth SAR 2 per share for H2-22.
Meanwhile for 2023 dividends, SABIC recently said it will be paying a cash dividend of SAR 1.80 per share for H1-23.
It is worth mentioning that in the first quarter (Q1) of 2023, the Saudi listed company reported SAR 660 million in net profit after Zakat and tax as well as revenues worth SAR 39.69 billion.
