The Board of Directors of the Advanced Petrochemical Company approved distributing cash dividends of 5.5% for the fourth quarter of 2022.
According to the company's statement on the Saudi Tadawul website, the total distribution amounts to 142.5 million riyals, including the number of outstanding shares of 259.2 million shares, as the share per share from the distribution amounts to 0.55 riyals.
The eligibility will be for the shareholders who own shares when the market closes on the eighteenth day of May 2023 AD and who are registered in the company’s shareholder register at the Depository Center at the end of the second trading day following the due date. The distribution date will be May 28, 2023 AD.
Advanced Petrochemical noted that the decision on future dividends will take into account future expansions and projects to complete the strategic growth plan of the company and its subsidiaries.
Advanced Petrochemical said that with regard to non-resident investors in the Kingdom, the profits paid to them by the company will be subject to a withholding tax of 5% when those profits are transferred or deposited in their bank accounts, in accordance with the provisions of Article (68) of the Income Tax Law and Article (63) of its implementing regulations.
