SABIC to increase capital to SR25b

JEDDAH — The Saudi Arabian Basic Industries Corporation (SABIC) is to increase its capital to SR25 billion by distributing one share for each four shares held by shareholders on record as at the end of April 22 trading.

By From Our Correspondent

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Published: Sun 30 Apr 2006, 11:21 AM

Last updated: Thu 2 Apr 2015, 9:22 PM

The General Assembly, which was held at SABIC headquarters in Riyadh under the chairmanship of Prince Saud bin Thunayan Al-Saud, chairman of the Royal Commission for Jubail and Yanbu and SABIC, recently, approved the capital increase. It also approved cash dividends of SR23 per share to shareholders (prior to share split decision) for SABIC's operations in the 2005 fiscal year. The total dividends distributed in the fiscal year amounted to SR9.2 billion.

The company distributed SR3.2 billion in dividends for the first half of 2005, at SR8 per share. The total dividends distributed for the second half of 2005 amounted to SR6 billion (SR15 per share prior to split).

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