Petrochem plans 5% cash dividend for FY17

National Petrochemical Co. (Petrochem) shareholders will discuss on April 16 -- the board’s recommendation of dispensing a cash dividend of five percent of capital (SAR 0.5 per share), totaling SAR 240 million for FY17, the company said in a stock market filing.

Shareholders of record on the second day after the general assembly will be eligible to receive the dividend. The payment date will be revealed later.

Shareholders will also look into the board of directors’ report, audit report and financial statements for the year.

Board bonuses at SAR 1.6 million and contracts signed with the Saudi Industrial Investment Group (SIIG) at SAR 3.2 billion, will be discussed.