Sipchem BOD announces distribution of SAR 543.84 million cash dividend for H2

Sahara International Petrochemical Company (Sipchem) announced on Monday, December 11th, 2023, the Board’s approval of a dividend distribution for the Second half period of 2023, at a total amount distributed of SAR 543.84 million, with a dividend per share of SAR 0.75, and 7.5% dividend to the share nominal value.

The company stated on Tuesday on Tadawul that the number of shares eligible for dividends is 725.12 million shares, to be distributed on Dec. 25, 2023.

Shareholders eligible to receive dividends are those who own shares on the maturity date Wednesday, 13.12.2023, and are registered with the Securities Depository Centre Company (Depository Centre) at the end of the second trading day following the eligibility date.

In another context, the company announced the decision of its Board of Directors dated December 11, 2023, which includes accepting the resignation of Eng. Mahmoud Saleh Al-Theeb (member from outside the Board of Directors) from the Audit Committee. The Board also congratulated Eng. Mahmoud Saleh Al-Theeb on his appointment as acting CEO of the Royal Commission in Jubail. The Board expressed its sincere thanks and appreciation to Resigned member for his efforts, contributions, and great cooperation through his participation in the work of the Audit Committee and wishing him continued success.