SABIC Agri-Nutrients to distribute $378mln dividends for H1-23

Reuters Images/Faisal Al Nasser

Eligibility and distribution dates for the H1-23 dividends will be 16 and 31 July 2023, respectively

Staff Writer, Mubasher

June 6, 2023

PHOTO

Riyadh – SABIC Agri-Nutrients Company announced cash dividends amounting to SAR 1.42 billion for the first half (H1) of 2023, according to a bourse disclosure.

The firm will disburse SAR 3 per share, representing 30% of the share nominal value, for 476.03 million eligible shares.

Eligibility and distribution dates for the H1-23 dividends will be 16 and 31 July 2023, respectively.

Meanwhile, the board members determined the cash dividends during their meeting that was held on 5 June.

In the first quarter (Q1) of 2023, SABIC Agri-Nutrients posted 60.96% lower net profits after Zakat and tax at SAR 981 million, compared to SAR 2.51 billion in Q1-22.

Revenues plunged by 40.73% to SAR 2.76 billion during Q1-23 from SAR 4.65 billion in the year-ago period, while the earnings per share (EPS) dropped to SAR 2.06 from SAR 5.28.

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