Shareholders of Saudi Basic Industries Corp. (SABIC) approved a 22% cash dividend for H2 2019, at SAR 2.20 per share, totaling SAR 6.6 billion during the general meeting held on April 21, the company said in a statement to Tadawul on Wednesday.
Shareholders also approved the 22% cash dividend paid for the first half of 2019, and authorized the board of directors to distribute dividend for the fiscal year 2020 on a quarterly or semi-annual basis.
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Dividend Details (H2 2019) |
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Current Capital |
SAR 30 bln |
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Number of shares |
3 bln |
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Dividend |
SAR 6.6 bln |
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Percentage of capital |
22% (SAR 2.2 per share) |
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Record date |
April 21, 2020 (Shareholders registered at the Securities Depository Center (Edaa) two days after this date) |
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Payment date |
May 12, 2020 |
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Dividend for FY 2019 |
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Total dividend |
SAR 13.2 bln |
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Percentage of capital |
44% (SAR 4.4 per share) |
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Shareholders also approved financial statements, as well as the board and audit reports for fiscal year 2019.
A board remuneration of SAR 1.8 million for the same fiscal year was also endorsed, and an external auditor was appointed for FY20 and Q1 2021.
Board members were also discharged from liabilities for FY19, the statement added.
| P/E (TTM) | NEG |
| P/E Before Unusual Items (TTM) | More than 100 |
| P/BV | 1.41 |
| Dividend Yield | 4.07 % |
| Market Cap. (M) | 235,500.00 |
| Return on Average Assets | (1.06 %) |
| Return on Average Equity | (1.80 %) |
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