Sabic shareholders approve $1.6bn dividend for second half of 2022 – The National

Sabic shareholders approve $1.6bn dividend for second half of 2022 – The National

The board of Saudi Basic Industries Corporation (Sabic), the Middle East's biggest petrochemicals company, approved a dividend of 6 billion Saudi riyals ($1.6 billion) for the second half of 2022, as the company continues to post profits amid a market recovery.

The second-half cash dividend is 2 riyals a share, Sabic said in a statement on Tuesday to the Tadawul Stock Exchange, where its shares are traded.

The dividend will be distributed to shareholders “who own the company shares on the eligibility date and enrolled in the company's register at Securities Depository Centre Company (Edaa) by the end of the second trading day following the due date … corresponding to March 13, 2023”, the company said.