Advanced Distributes SR142.5 mln Cash Dividends for 2Q of 2022

The Board of Directors of Advanced Petrochemical Company in its meeting held on July 05, 2022 reviewed the financial and operational performance of the Company and resolved to distribute dividends to the shareholders for the second quarter of 2022.

“Advanced” said in a statement to the Saudi market “Tadawul” on Wednesday that the board recommended distributing SR142.533 million as cash dividends for the second quarter of this year (2022), at a rate of 5.5% of the nominal value of the share at SR0.55 per share. Shares payable for dividends approximately 256.151 million shares.

The eligibility of dividends shall be for the shareholders at the closing of trading on September 08, 2022 and as per the registered shareholders in the register of the Securities Depository Centre at the end of the 2nd trading day following the eligibility date.

The distribution date will be on September 18, 2022.

The Company urges its shareholders to update their data and to make sure to link their bank accounts numbers to their investment portfolios to ensure receipt of their dividends.

For non-resident investors, the dividend paid by the Company is subject to a withholding tax of 5.0% upon transfer to non-resident investors or credited to their bank accounts according to the provisions of Article (68) of the Income Tax Law and Article (63) of its Implementing Regulations.