Advanced Petrochemical proposes SAR 0.65/shr dividends

ADVANCED
2330 -0.73% 47.65 -0.35

Riyadh – Mubasher: The board of Advanced Petrochemical Company has recommended the distribution of cash dividends to shareholders for the fourth quarter (Q4) of 2019 at SAR 0.65 per share, equivalent to 6.5% of the share’s par value.

During a meeting held on 8 December, the board reviewed the company’s financial and operational performance and passed his recommendation for cash dividends to the company’s general assembly.

The total amount of the proposed dividends stands at SAR 140.7 million, distributed over roughly 216.5 million shares, according to the company’s statement to the Saudi Stock Exchange (Tadawul).

The eligibility of dividends will be to shareholders registered in the register of the Securities Depository Center at the end of the second trading day following the date of general assembly meeting which will be determined after the approval of regulatory authorities, the statement noted.

This is set to bring the total cash dividends for 2019 to SAR 556.9 million, equivalent to SAR 2.7 per share or 27% of the share’s face value.

Source: Mubasher Source: {{details.article.source}}