Report: SABIC distributed SR188.25 bln over 15 years

A report revealed that the Saudi Basic Industries Corporation “SABIC” distributed SR 188.25 billion to the company’s shareholders in the form of cash dividends since 2007 until the first half of this year (2022), for which the value of the proposed dividends was announced today, based on data collected by Maaal.

SABIC announced on Sunday the board of directors’ recommendation that the dividend per share will be SR2.25 per share, or 22.5% of the percentage of dividend to the share par value, where the number of company shares is 3 billion shares with a nominal value of SR10 per share.

According to “Maal”, the years 2014 and 2015 were the best in the value of cash dividends over the last 15 years, as the value of distributions amounted to SR 16.5 billion in one year, and SR 7.5 billion as cash dividends in the first half, and SR 9 billion in the second half.

On the other hand, the 2009 dividends were the lowest during the period, at 4.5 billion riyals, with a share of 1.5 riyals per share, and a distribution rate of 15% of the nominal value of the share, noting that this year witnessed a noticeable decline in profits; As a result of the sharp decline in the prices of most petrochemical products, plastics and metals, especially in the first half of the year due to the global financial crisis that hit the global economy at the time.

From 2015 to 2019, SABIC’s distributions were moving at an almost constant pace, as annual cash dividends revolved around 12 billion to 13.6 billion riyals in the preceding year. But with the beginning of the year 2020, the Corona virus pandemic hit all parts of the globe, affecting all economic activities, without exception, which affected the “SABIC” distributions in that year to drop to 9 billion riyals, at 4.5 billion riyals for the first half and the same for the second.

In the past year (2021), SABIC distributed a total cash dividend of SR 12 billion, SR 5.25 billion for the first half of the year, and SR 6.75 billion in the second half, bringing the total share of the distribution to 4 riyals, with a distribution rate of 40% of the nominal share value.