Sipchem to approve FY18 cash dividend in April

Saudi International Petrochemical Co.’s (Sipchem) shareholders on April 21 will approve paid cash dividend for FY18 at 11.5 percent of capital, or SAR 1.15 a share, totaling SAR 421.67 million, the company said in a bourse statement.

Shareholders will also vote on creating general reserves in addition to authorizing the board to approve the related policy.

The board of directors’ report, an audit report and all financial statements for 2018 will be also endorsed.

Additionally, shareholders will discharge board members from liability associated with their activities in 2018, and select an external auditor for 2019 and Q1 2020.

Board bonuses at SAR 4.2 million for FY18 will be also approved during the meeting.