The Board of Directors of Yanbu National Petrochemical Company (Yansab) recommended distributing 12.5% ​​cash dividends to shareholders for the first half of the year 2020.

According to Arabia Net, the number of shares due for profits will be 562,500,000 shares, with a total amount distributed 703,125,000 SAR.

Yansab announced the preliminary financial results for the first quarter of 2020, during which it achieved a 73.25% decline in profits.

The company’s data on the Saudi Stock Exchange website, Tadawul, showed that the company’s net profit after Zakat and tax amounted to 104.5 million riyals, compared to a net profit of 390.6 million riyals during the same period. From last year.

The company said that the reason for the decrease in net profit is due to the decrease in the average selling prices of all products.

The company's revenues decreased 21.5% to 1.195 billion riyals, compared to 1.522 billion riyals during the same period last year.