SR1.75 per share Eligibility Period, Concluded for “SABIC”

For the first half of 2021, the Saudi Basic Industries Corporation (SABIC) dividends are limited to a total of SR5.25 billion and a SR1.75 per share, for a distribution ratio of 17.5% to the nominal share value.

The total number of shares eligible for dividends is 3 billion, with the distribution date set for Sunday October 3, 2021, according to the Umm Al-Qura calendar.

Non-resident investors who have tax exemptions on profits issued by the Zakat, Tax and Customs Authority must contact SABIC, within 5 calendar-day of the due date and present documentation, verifying the tax exemption.

During the second quarter of 2021, “SABIC” made a net profit after zakat and tax of SR7.64 billion, compared to losses of SR2.22 billion in the same quarter the previous year, and the net profit after zakat and tax for the current period was SR12.5 billion, compared to losses of SR3.27 billion in the same period the previous year.

In the first half of this year, earnings per share were SR4.17, compared to losses of SR1.09, in the same period the previous year.

“SABIC” earnings in the second quarter of 2021 were SR7.64 billion.

It is the greatest in the last ten years, particularly since the company’s profits of SR8.19 billion, posted in the third quarter of 2011.

The earnings achieved by “SABIC” in the second quarter, are the greatest since the second quarter of 2011, as well.

In this regard, SABIC CEO Yousef Al-Benyan stated that the company’s profitability have improved, in the second quarter and first half of this year, as a result of a 3% increase in volume sales

In addition, prices have increased by around 10% on average.

This is backed up by an average increase of 13%, in oil costs.

He predicted that the company’s product marketplaces would continue to improve during the rest of the year.

As a result, the corporation is predicted to make more money, in the third quarter and 2021, as a whole, than it did in 2020.

SABIC’s revenues in the second quarter of 2021 reached SR42.72 billion, which is the company’s highest revenue, since the third quarter of 2018, when it posted as much as  SR43.71 billion, and there have been changes in the percentages of the three operating sectors’ contributions to those revenues.

The Kingdom’s contribution to SABIC’s revenues, increased to 18% in the second quarter of 2021, the highest rate since the fourth quarter of 2017, when it reached the same percentage, compared to 17% in the first quarter of 2021.

Saudi Arabia’s contribution to SABIC’s revenues has fluctuated between 13% in the third quarter of 2017 and 18% in the first two months of 2017.