Saudi Basic Industries Corp.’s (SABIC) shareholders have approved a 22 percent cash dividend for the second half of 2018, during the general assembly meeting held on Tuesday.
Shareholders have also delegated the company’s board of directors to declare dividend for the fiscal year 2019 on a quarterly of semi-annually basis.
Meanwhile, they have elected members of the board of directors for the upcoming three-year term starting on April 10, 2019.
Abdulaziz Aljarbou was named as chairman and Yousef Al-Benyan as vice chairman and CEO.
The other board members are Rashed Ibrahim Mohammad Al Sharif, Roberto Cialdoni, Kalem Maakilin, Abdullah M. Al-Issa, Khaled H. Nahas, Mohammed bin Talal Al-Nahas and Nader I. Al-Wehibi.
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Dividend Details (H2 2018) |
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Current Capital |
SAR 30 bln |
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Number of shares |
3 bln |
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Dividend |
SAR 6.6 mln |
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Percentage of capital |
22% (SAR 2.2 per share) |
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Record date |
April 9, 2019 |
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Payment date |
April 30, 2019 |
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Dividend for FY 2018 |
|
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Total dividend |
SAR 13.2 bln |
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Percentage of capital |
4.4% (SAR 4.4/share) |
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