Yansab approves cash dividend for H2 2018

Yanbu National Petrochemical Co.’s (Yansab) shareholders approved on April 4 the financial statements and board report for fiscal year 2018, the firm said in a statement to Tadawul.

They also approved appointing Ernest and Young as the external auditor for the firm’s quarterly and annual results in 2019.

The shareholders approved discharging board members from liabilities during FY 2018, and agreed on a board remuneration of SAR 1.4 million for the year.

They approved the previously paid cash dividend of SAR 984.37 million (SAR 1.75 per share) for the first half of 2018.

The board of director’s recommendation for a 20 percent cash dividend, or SAR 1.125 billion (SAR 2 per share) for the second half of 2018 was also approved.

The firm’s shareholders approved to authorize the board of directors to distribute quarterly or semi-annually dividends for fiscal year 2019.