SABIC to distribute US$1.6 billion in dividends
The SABIC Board of Directors, at its meeting held Sunday, decided to recommend to the General Assembly the distribution of SR 6 billion (US$1.6 billion) in dividends to shareholders for the second half of 2010 at SR 2 per share.
Eligibility will be for shareholders listed on Tadawul at the end of trading on the date of the meeting of the General Assembly, expected to be held in April 2011. The total recommended dividends to shareholders for 2010 is SR 10.5 billion, at SR 3.5 per share.
The SABIC Board has already approved distribution of SR 4.5 billion to shareholders for the first half of 2010 at SR 1.50 per share. Payment to shareholders was effected on August 7, 2010. The Board also reviewed the company's performance for 2010 and the positive results achieved. The Board expressed satisfaction over the accomplishments and lauded the efforts of the employees.