Advanced board recommends no dividends for Q1 2023

02/04/2023 Argaam
Production line at afactory ofAdvanced Petrochemical Co.

Production line at a factory of Advanced Petrochemical Co.

Advanced Petrochemical Co.’s board of directors recommended, on March 30, withholding dividends for Q1 2023, according to a statement to Tadawul.

 

The reasons behind the proposal include focusing on the company's future expansions and projects. The recommendation will be reconsidered after the start of the commercial operation of the Advanced Polyolefins Co. project, the company said.

 

It added that the proposal is pending the approval of the upcoming ordinary general meeting.

 

Advanced made quarterly dividend for the past few years, while it distributed SAR 2.2 per share dividend, or 22%, at a total of SAR 570.5 million for 2022, Argaam reported.

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