The board of directors of Sahara International Petrochemical Company (Sipchem), in its meeting held yesterday, Wednesday, decided to distribute cash dividends to the company's shareholders for the second half of 2022, with a total value estimated at about 1.09 billion riyals.
And (Sipchem) said in a statement to the Saudi market (Tadawul), today, Thursday, that the distribution is 15% of the nominal value of the share, at 1.5 riyals per share, explaining that the number of shares entitled to dividends is estimated at 725.12 million shares.
(Sipchem) stated that the eligibility of profits is for the company’s shareholders who own shares at the end of trading on Monday, corresponding to December 5, 2022, and who are registered in the company’s shareholder register at the Securities Depository Center (Depository Center) at the end of the second trading day following the due date, explaining that the date of dividend distribution is 05/21 / 1444 AH.
The (Sipchem) General Assembly, which was held yesterday, also agreed to elect the members of the company's board of directors from among the candidates for the next session, which begins on December 10, 2022, for a period of three Gregorian years, and ends on December 9, 2025.
It is worth noting that the profits of (Sipchem) increased by 37.2% in the first nine months of this year, to reach 3.12 billion riyals, while the company’s net profits declined in the third quarter of the year by about 24.8%, to reach 774.4 million riyals, compared to 1.03 billion riyals, profits for the same period. From 2021.
