The SAFCO (Saudi Arabian Fertilizer Company) Board decided to recommend to its Extraordinary General Meeting taking place on 13 April, to distribute SR 560 million in dividends to its shareholders for 2004. This is a value of 14 Riyals per share.
SABIC Vice Chairman and Chief Executive and Chairman of SAFCO, Mohamed Al-Mady said, “The SAFCO Board of Directors have improved performance and activity at all levels. I would like to congratulate all the staff for achieving these record profits – an increase of 64% on the previous year.
In particular, it is a great honor for SAFCO to have also been awarded a certificate by our licensees for being the best global producer of urea. I would also like to take this opportunity to encourage the Board of Directors, Management and staff to continue to improve on their hard work in future.”
