Petrochem’s shareholders nod to dividends for 2020

The company will start paying to the entitled shareholders on May 5

  
A Saudi trader monitors stocks at the Saudi stock market in Riyadh, Saudi Arabia, January 8, 2020.

A Saudi trader monitors stocks at the Saudi stock market in Riyadh, Saudi Arabia, January 8, 2020.

REUTERS/Ahmed Yosri
Riyadh – Mubasher: The shareholders of National Petrochemical Company (Petrochem) gave the green light for distributing cash dividends worth SAR 360 million, representing 7.5% of the capital, for 2020.

The company will start paying SAR 0.75 per share to the entitled shareholders on 5 May, according to a bourse filing on Wednesday.

Last month, Petrochem’s board proposed a dividend payout equivalent to 7.5% of the share’s nominal value for 2020.

The company has achieved a net profit of SAR 230 million last year, which came 65.9% lower on an annual basis.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2021 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Equities