Saudi SABIC to Pay US$1.80 Billion Dividends for H1

Saudi Basic Industries Corporation, known as SABIC, has announced its board’s decision to pay SR6.75 billion (US$1.80 billion) dividends to 3 billion eligible shares for the first half of 2022.

Shareholders will receive the dividend at the rate of SR2.25 (60 cents) per share on Oct. 2 of this year, according to a bourse filing.

The Riyadh-based company has recently reported a 33% surge in first-quarter profits to SR6.47 billion (US$1.72 billion), driven by a 40% rise in sales.