BCI shareholders to vote on withholding Q4 2019 dividend on June 1

Basic Chemical Industries Co.’s (BCI) shareholders are set to vote on withholding cash dividend for the fourth quarter of 2019 during the ordinary general meeting that will be held on June 1, 2020, the company said in a bourse statement.

Shareholders will also vote on delegating the company’s board of directors to distribute interim dividend for FY2020 on a semi-annual or a quarterly basis.

In March, BCI’s board of directors recommended withholding cash dividend for the fourth quarter of 2019, indicating that dividend distributed for the first 9 months of 2019, at SAR 1 per share, were sufficient and equivalent to the previous years’ distribution, according to data compiled by Argaam.