Saudi: Yansab unveils $150mln cash dividends for H1-23

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Riyadh – Yanbu National Petrochemical Company (Yansab) decided to pay a total of SAR 562.50 million as cash dividends for the first half (H1) of 2023, according to a bourse disclosure.

Yansab will disburse SAR 1 per share, equivalent to 10% of the capital, for 562.50 million eligible shares.

Meanwhile, the eligibility and distribution dates for the H1-23 dividends will be 18 July and 6 August 2023, respectively.

In the first quarter (Q1) of 2023, the Tadawul-listed firm shifted to net losses after Zakat and tax valued at SAR 369.70 million, against net profits amounting to SAR 283 million in Q1-22.

Revenues plummeted by 66.30% to SAR 667 million as of 31 March 2023 from SAR 1.97 billion in the year-ago period.

Loss per share hit SAR 0.66 in Q1-23, compared to earnings per share (EPS) of SAR 0.50 in Q1-22.