Shareholders of Basic Chemical Industries Co. (BCI) approved withholding dividend for Q4 2019 during the ordinary general meeting held on June 1, the company said in a statement on Tuesday.
On March 17, 2020, BCI paid a dividend of SAR 1 per share for the first nine months of 2019.
The board of directors was also authorized to distribute interim dividend for FY2020 on a semi-annual or quarterly basis.
Shareholders also discharged board directors from liability for the fiscal year 2019, and approved a board remuneration of SAR 2 million for the same year.
In March, BCI’s board of directors recommended withholding cash dividend for the fourth quarter of 2019, Argaam reported.
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