Riyadh: The board members of Saudi Basic Industries Corporation (SABIC) decided to distribute cash dividends totalling SAR 5.10 billion to its shareholders for the second half (H2) of 2024.

SABIC will pay SAR 1.70 per share, representing 17% of the share par value, for 3 billion eligible shares, according to a bourse filing.

The eligibility and distribution dates for H2-24 dividends will be 11 February and 4 March 2025, respectively.

The company stated that the dividend distribution's decision, which was made in the 21 December 2024 board meeting, reflects SABIC’s commitment to ensuring long-term dividend payout for its shareholders despite the challenges currently facing the global petrochemical markets.

In the first nine months (9M) of 2024, SABIC turned to net profits amounting to SAR 3.43 billion, against net losses of SAR 1.04 billion during the same period in the previous year.

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