Sipchem to vote on 10% shares buyback on April 29

Sahara International Petrochemical Co.’s (Sipchem) shareholders are set to vote on purchasing 10%, or 73.33 million, of its shares, to be retained as treasury shares, during the extraordinary general meeting that will be held on April 29, 2020, the company said in a statement to Tadawul.

Shareholders will also vote on delegating the company’s board of directors to distribute dividend for FY 2020 on an annual or a semi-annual basis.

Meanwhile they will vote on other items on the meeting’s agenda including dividend paid for H1 2019 at 6% or SAR 0.6 per share.