BCI to withhold dividend for FY 2018

26/05/2019 Argaam

 

Basic chemical Industries Co.’s (BCI) general assembly has approved a board recommendation to hold off on issuing a cash dividend for fiscal year 2018, the company said in a statement.

 

The decision aims to support the company’s financial position and future expansions particularly the Chlorine Project in Al Jubail which is expected to have a cost of SAR 520 million.

 

Shareholders have also elected members of the board of directors for the upcoming three-year term starting on June 15, 2019.

 

The new board includes Abdullah Muhanna Abdul Aziz Al Moaibed, Hessah Al Sheikh, Sulaiman bin Abdullah AlKadi, Tariq Ali Abdullah Al-Tamimi, Abdul Aziz Muhanna Abul Aziz Al-Moaibed, Khalid Abdullah Ibrahim Al-Moammer, Abdullatif Azmi Abdullatif Abdul Hadi, Abdul Aziz Abdulla Abdul Aziz Al Naim and Abdulaziz Talal Ali Al Tamimi.

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