RIYADH: Chemicals production company Saudi Basic Industries Corp. announced the distribution of interim cash dividends amounting to SR4.5 billion ($1.19 billion) for the first half of the year.
Shareholders owning company shares as of the eligibility date of Aug. 19 will receive a dividend of SR1.50 per share, representing 15 percent of the unit’s par value.
The distribution is scheduled for Sept. 9, as SABIC emphasized its commitment to distribute competitive dividends in the long term despite the challenges facing the global petrochemical markets.
SABIC’s decision, despite reporting quarterly losses, underscores its financial resilience and confidence in the long-term strength of the sector.
The move aims to reassure investors of consistent returns and signals sector-wide stability, influencing peers across Saudi Arabia.
