Middle East Business: Sabic to distribute $3.2bn in dividends for 2021 – Gulf Digital News

Middle East Business: Sabic to distribute $3.2bn in dividends for 2021 – Gulf Digital News

Sabic has announced SR6.75 billion ($1.8 billion) cash dividends for the second half (H2) of 2021 at SR2.25 per share representing 22.5% of the share value, in addition to SR5.25 billion ($1.4 billion) dividends for H1 at SR1.75 per share (17.5% of the share value), bringing the total dividends for 2021 to SR12 billion ($3.2 billion).

Shareholders eligible for the second half dividends are those who own shares on the due date – the AGM date (April 10) – and those registered in the company’s share registry at the Depository Center at the end of the second trading day following the due date. The dividends will be distributed on April 25, 2022. The total proposed dividend for 2021 is SR12 billion at SR4 per share, representing 40% of the nominal value per share.

The Assembly elected the Board of Directors’ members for the next Board term of three years starting April 10.

Speaking at the meeting, Khalid Hashim Al-Dabbagh, Sabic Chairman, said two particular global challenges stood out for Sabic in 2021, the COVID-19 pandemic and the threat of climate change.

He said: “To this very day, the coronavirus’ lingering persistence is causing market volatility and supply-chain disruption. Nevertheless, I’m heartened by how we