BCI shareholders approve 2021 dividend freeze

30/06/2022 Argaam
A factory of Basic Chemical Industries

A factory of Basic Chemical Industries

Basic Chemical Industries Co.’s (BCI) shareholders approved the board’s recommendation to withhold dividends for 2021, during the ordinary general meeting (OGM) held on June 29, according to a bourse filing.

 

BCI board of directors recommended, on May 22, to not distribute cash dividends for 2021, Argaam reported.

 

The recommendation aimed to boost the company’s financial position and expansions for the upcoming years, and finance the chlorine project in Jubail.

 

The last dividend distributed by the company was for the first nine months of 2019 at 10%.

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