National Petrochemical Co.’s (Petrochem) board of directors recommended withholding a cash dividend for fiscal year 2015, the company said in a statement to Tadawul.
Petrochem said the decision was necessary to maintain liquidity in order to meet its financing and project requirements.
Cash flow may also be impacted as a result of maintenance work at Saudi Polymers Co.’s (SPCo) plant in Q4-2016, which will last for 60 days. SPCo is jointly owned by Petrochem and Chevron Phillips.
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