The Advanced BOD decides to distribute SAR 142.5 mln cash dividends for Q4 2022

The Board of Directors of the Advanced Petrochemical Company in its meeting held on February 20, 2023 reviewed the financial and operational performance of the Company and resolved to distribute dividends to the shareholders for the fourth quarter of 2022 with the total amount distributed of SAR 142,532,860.25 provided that the dividend per share is SAR 0.55, with the percentage of Dividend to the Share Par Value is 5.5 %.

The company said today on “Tadawul” that the number of shares eligible for dividends is 259,150,655 shares, and the distribution date will be on May 28, 2023.

The eligibility of dividends shall be for the shareholders at the closing of trading on May 18, 2023 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% 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.

The Company highlighted that the decision for future dividends distributions will consider the future expansions and projects to complete the strategic growth plan of the Company and its subsidiaries.