SATORP approves SAR 450 mln dividend for FY17

Arabian Aramco Total Services Co. on Monday said that shareholders of its parent company, Saudi Aramco Total Refining and Petrochemical Co. (SATORP), on July 9 approved the distribution of SAR 450 million cash dividend for fiscal year 2017.

The amount shall be paid on two tranches: the first shall be distributed during July at a total amount of SAR 337.5 million, while the second during October worth SAR 112.5 million.

The company noted that the shareholders have reserved the right to distribute a third tranche of SAR 112.5 million during December, depending on SATORP cash liquidity position, which If resolved, would make total SATORP's dividend distribution for FY 2017 SAR 562.5 million.