RIYADH: Saudi petrochemical firm SABIC Agri-Nutrients Co.’s board has decided to distribute SR1.9 billion ($508 million) in dividends for the first half of 2022.
The dividend payout will be SR4 per share, to be paid on Aug. 1 with almost 476 million shares eligible for dividends, the homegrown company revealed in a bourse filing.
Half owned by chemical giant SABIC, SABIC Agri-Nutrients had earlier posted a near six-fold jump in its quarterly profits, buoyed by a surge in sales.
Despite global logistic hurdles, net profit soared to SR2.5 billion in the first quarter of the year, compared to SR423 million in the same period a year ago.