Sipchem shareholders to vote on dividend payout

Saudi International Petrochemical Company (Sipchem) shareholders will vote on the board of directors’ recommendation to distribute a 5 percent cash dividend amounting to SAR 183.33 million (SAR 0.50 per share) at the company’s ordinary general assembly meeting on April 1.

Registered shareholders at Securities Depository Center Co. (Edaa) by the end of the second trading day following the meeting are eligible to receive the dividend, the company said in a bourse statement on Wednesday.

Additionally, shareholders will also approve board remuneration amounting to SAR 3.85 million, appoint external auditors, as well as exempt board members from liabilities.