BCI BOD recommends not Distributing Dividends for 2021

Basic Chemical Industries (BCI) Company announced on Tuesday the decision of the Company’s Board of Directors in its meeting held on Sunday, May 22, 2022 to recommend to the General Assembly not to distribute cash dividends for the fiscal year ended 31 December 2021.

The reason for the recommendation is the continuing completion of the company’s construction and financing of its Chlorine project in Jubail industrial area.

The reason for the recommendation is to support the financial position of the company and to the continuing completion of the company’s construction and financing of its project in Jubail.

Recommendation is to be presented at the next meeting of the general assembly of shareholders to take approval of the decision, the date of which will be announced later after the approval of Capital Market Authority.