Petrochem approves 5% cash dividend for FY16

18/04/2017 Argaam

National Petrochemical Co.’s (Petrochem) extraordinary general assembly has approved a 5 percent cash dividend (SAR 0.5 per share) for fiscal year 2016.

 

Petrochem last issued cash dividend to its shareholders in 2009.

 

The company’s contracts with Saudi Industrial Investment Group (SIIG) were extended for an additional year.

 

During the meeting, shareholders also approved a remuneration of SAR 200,000 for each board member for the same year.

 

Cash Dividend Details (FY16)

Current capital

SAR 4.8 bln

Number of shares

480 mln

Cash dividend

SAR 240 mln

Percent capital

5% (SAR 0.50/share)

Record date

April 17, 2017

Payment day

April 27, 2017

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