SAFCO Board recommends distribution of SR 7 per share for second half of 2008
At a meeting held on November 25, 2008, the Board of the SABIC affiliate SAFCO recommended distribution of dividends equivalent to SR 7 per share for the second half of 2008.
Dividends for the first half of 2008 amounted to SR 6 per share. This is due to SAFCO achieving record performance and improved business processes in the areas of safety, environment, production and sales. Eligibility to dividends for the second half of 2008 shall be for shareholders registered in Tadawul by the end of trading on the day of the SAFCO General Assembly Meeting, to be held at the beginning of 2009.
The Board also reviewed the conditions of global markets and the repercussions of the financial crisis and approved a number of recommendations that would raise productivity and reduce costs.
Mohamed Al-Mady, Chairman of SAFCO and Vice Chairman and CEO of SABIC commended the efforts of employees in achieving these accomplishments in 2008.
