BCI shareholders withhold Q4 2019 cash dividend

Shareholders of Basic Chemical Industries Co. (BCI) approved withholding dividend for Q4 2019 during the ordinary general meeting held on June 1, the company said in a statement on Tuesday.

On March 17, 2020, BCI paid a dividend of SAR 1 per share for the first nine months of 2019.

The board of directors was also authorized to distribute interim dividend for FY2020 on a semi-annual or quarterly basis.

Shareholders also discharged board directors from liability for the fiscal year 2019, and approved a board remuneration of SAR 2 million for the same year.

In March, BCI’s board of directors recommended withholding cash dividend for the fourth quarter of 2019, Argaam reported.