Saudi: Sipchem to pay $96.5mln dividends for H2-24

Sipchem will pay SAR 0.50 per share, representing 5% of the share par value, for 725.12 million eligible shares

Staff Writer, Mubasher

November 27, 2024

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The board members of Sahara International Petrochemical Company (Sipchem) decided, in their 26 November 2024 meeting, to distribute a total of SAR 362.56 million as cash dividends for the second half (H2) of 2024.

Sipchem will pay SAR 0.50 per share, representing 5% of the share par value, for 725.12 million eligible shares.

The eligibility date will be 2 December 2024, whereas the distribution will take place on 16 December.

The company earlier approved 5% of the capital to be paid as cash dividends for H1-24, which brings the total dividend payout for 2024 to SAR 725.12 million.

In the January-June 2024 period, Sipchem generated a net profit of SAR 303 million.

Meanwhile in the nine-month period this year, the company’s net profits reached SAR 406.20 million while its revenues hit SAR 5.32 billion.

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