Advanced distributes SR142.5 mln cash dividends for Q3

The Board of Directors of the Advanced Petrochemical Company, in its meeting held on September 27, 2022, reviewed the financial and operational performance of the company and issued its decision approving the distribution of cash dividends to shareholders for the third quarter of 2022, with a total distributed amount of SR142,532,860.25, provided that the share of the distribution is SR0.55, with a dividend to nominal value of 5.5%.

The company said in a statement on Tadawul on Wednesday that the number of shares due for dividends is 259,150,655, and the distribution date will be on December 18, 2022.

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

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.