The board of Sahara International Petrochemical Company (Sipchem) agreed to distribute cash dividends worth SAR 1.08 billion, representing 15% of the capital, for the second half (H2) of 2022.

The Saudi firm will disburse SAR 1.50 per share for 725.12 million eligible shares, according to a bourse disclosure.

Meanwhile, the eligibility and distribution dates for the H2-22 dividends will be on 5 and 15 December, respectively.

In the first nine months (9M) of 2022, Sipchem reported net profits after Zakat and tax worth SAR 3.11 billion, a 37.23% year-on-year (YoY) leap from SAR 2.27 billion.

The company’s revenues jumped by 23.80% to SAR 8.54 billion in 9M-22 from SAR 6.89 billion in 9M-21, whereas the earnings per share (EPS) went up to SAR 4.30 from SAR 3.12 in 9M-21.

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