Saudi Basic Industries Corporation (Sabic) has announced the Board recommendation to distribute cash dividends amounting to SR4.5 billion ($1.2 billion) to shareholders for the second half (H2) of 2020.

Each of eligible three billion shares will be entitled to a dividend of SR1.5, with the percentage of dividend to the share book value reaching 15%, a company statement said.

The eligibility of Cash dividend will be to Shareholders who own the company shares on the Eligibility date and enrolled in the Company's register at Securities Depository Center Company (Edaa) by the end of the second trading day of the day of the General Assembly of the company, which will be announced later, the statement added.

The dividend paid is subject to a withholding tax of 5% upon transfer to non-resident investors or credited to their bank accounts according to the provisions of the Income Tax Law and Article (63), it noted. – TradeArabia News Service

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