SABIC to disburse SAR 5.4bn cash dividends for H1-23

SABIC to disburse SAR 5.4bn cash dividends for H1-23

The board of (SABIC) decided to pay out SAR 5.40 billion as cash dividends for the first half (H1) of 2023. SABIC will disburse SAR 1.80 per share for 3 billion eligible shares, according to a bourse disclosure. Eligibility and payment dates for the dividends will be 12 September and 2 October 2023, respectively. The board members greenlighted the H1-23 dividends, which represent 18% of the company’s capital, during their meeting that was held on 14 June. In the first quarter (Q1) of 2023, the Tadawul-listed firm , an annual plunge of 89.80% from SAR 6.47 billion. Revenues dropped by 24.60% to SAR 39.69 billion in Q1-23 from SAR 52.64 billion in Q1-22, while the earnings per share (EPS) plummeted to SAR 0.22 from SAR 2.16.