SABIC to distribute $1.28bln dividends for H2-23

The board members greenlighted the cash dividends, which account for 16% of the company’s capital

Staff Writer, Mubasher

December 12, 2023

PHOTO

Riyadh – The board members of Saudi Basic Industries Corporation (SABIC) approved interim cash dividends to shareholders amounting to SAR 4.80 billion for the second half (H2) of 2023.

A dividend of SAR 1.60 per share will be paid to 3 billion eligible shareholders, according to a bourse filing.

The board members greenlighted the cash dividends, which account for 16% of the company’s capital, during their meeting on 11 December 2023.

Meanwhile, the eligibility and payment dates for the dividend will be 12 February and 4 March 2024, respectively.

In the first nine months (9M) 2023, the listed company shifted to net losses after Zakat and tax worth SAR 1.04 billion, compared to net profits valued at SAR 16.24 billion in 9M-22.

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