SABIC to pay 20% of capital as dividends for H2-22

SABIC to pay 20% of capital as dividends for H2-22

Riyadh – Mubasher: The board of Saudi Basic Industries Corporation (SABIC) decided to distribute cash dividends worth SAR 6 billion, equivalent to 20% of the capital, for the second half (H2) of 2022.

The firm will disburse SAR 2 per share for 3 billion eligible shares, according to a bourse disclosure.

Meanwhile, the eligibility and distribution dates for the dividends will be on 13 March and 2 April 2023, respectively.

In the first nine months (9M) of 2022, SABIC logged net profits after Zakat and tax worth SAR 16.24 billion, lower by 10.28% than SAR 18.10 billion in the January-September 2021 period.

Revenues enlarged by 25.75% to SAR 155.49 billion from SAR 123.65 billion, whereas the earnings per share (EPS) declined to SAR 5.41 from SAR 6.03.