Saudi chemical giant SABIC to pay $1.80bn dividends for H1

RIYADH: Saudi Basic Industries Corporation, known as SABIC, has announced its board’s decision to pay SR6.75 billion ($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 per share on Oct. 2 of this year, according to a bourse filing.

The Riyadh-based company has recently reported a 33 percent surge in first-quarter profits to SR6.47 billion, driven by a 40 percent rise in sales.