Shareholders of Saudi Basic Industries Corp. (SABIC) on Apr. 9 will discuss the board's recommendation on paying a 22 percent cash dividend, to be issued at SAR 2.2 per share for H2 2018, the company said in a statement to Tadawul on Sunday.

 

The second-half dividend, which will total SAR 6.6 billion, will be distributed to eligible shareholders on Apr. 11.

 

Dividends will be paid on Apr. 30, the statement added.

 

Shareholders are also set to review the board and auditor’s reports, as well as financial statements for fiscal year 2018. They will also discuss a board remuneration of SAR 1.8 million for the fiscal year 2018.

 

SABIC will also hire an external auditor for the current fiscal year.

 

Dividend Details – H2 2018

Current Capital

SAR 30000 mln

Number of shares

3,000 mln shares

Total dividend

SAR 6,600 mln

Percentage of Capital

22% (SAR 2.2 per share)

Record date

April 9, 2019

Payment date

April 30, 2019

Cash Dividend Details (FY 2018)

Total cash dividend

SAR 13,200 mln

Percent of capital

44% (SAR 4.4 per share)

 

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