SABIC shareholders to vote on H2 2017 dividend April 17

21/03/2018 Argaam

 

Shareholders of Saudi Basic Industries Corporation (SABIC) on April 17 will discuss the board's recommendation on paying a cash dividend at 22 percent of par value, or SAR 2.20 per share for H2 2017, the company said in a statement to Tadawul on Wednesday.

 

The second-half dividend, which will total SAR 6.6 billion, would be distributed to eligible shareholders on the second day after the general assembly meeting.

 

Dividends will be paid on May 1, the statement added.

 

Shareholders are also set to review the board and auditor’s reports, as well as financial statements for fiscal year 2017. They will also discuss a board remuneration of SAR 1.8 million for the fiscal year 2017.

 

SABIC will also hire an external auditor for the current fiscal year.

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